The FTX platform’s bankruptcy has underscored the need for stricter oversight, according to IOSCO The crash of the FTX exchange has made regulating the cryptocurrency industry a more urgent matter, according to the new chair of the global securities watchdog IOSCO.

The restrictions target telecom giants Huawei and ZTE, along with several other firms Washington has banned the import and sales of new telecommunications equipment from China’s largest manufacturers due to “an unacceptable risk” they allegedly pose to US national security.

The country’s holdings, including those frozen by Western sanctions, have surpassed $540 billion Russia has risen to fourth place among the world’s largest economies in terms of foreign exchange reserves, RIA Novosti calculations published on Saturday show.