Fed's Powell: DeFi needs appropriate regulation before expanding to retail
Jerome Powell acknowledged that DeFi will start to reach more retail customers, highlighting the need for regulation. United States Federal Reserve chairman Jerome Powell has spoken out about the expansion of decentralized finance (DeFi) and its impact on the traditional finance ecosystem, calling for appropriate regulation.During an event titled the “Opportunities and challenges of the tokenisation of finance” hosted by the Banque de France on Sept. 27, Jerome Powell said there were “very significant structural issues around the lack of transparency” in the DeFi ecosystem.The comments....
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Federal Reserve Chairman Jerome Powell says decentralized finance (defi) has “very significant structural issues,” emphasizing a “real need” for more appropriate regulation of the defi ecosystem. Fed Chair Jerome Powell on Defi Regulation Federal Reserve Chairman Jerome Powell talked about the regulation of decentralized finance (defi) Tuesday during a panel discussion on digital finance hosted by Banque of France. “The monetary policy normalization that we’re seeing all over the world,” Powell began. “All it did was simply reveal....
Majority of the top 100 DeFi tokens had a mixed week, with several tokens trading in green on weekly charts, with the total value locked seeing a minor increase of $4 billion. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.United States Federal Reserve chairman Jerome Powell has given his verdict on the evolution of the DeFi market, claiming there is a definite need for robust regulation before the nascent market could expand to retail.Maple Finance CEO....
The chairman of the Federal Reserve, Jerome Powell, says crypto requires new regulation, citing that it presents risks to the U.S. financial system and could destabilize existing financial institutions.
Fed Chair Powell Sees the Need for New Crypto Regulation
Federal Reserve Chairman Jerome Powell talked about the need to establish new regulation for cryptocurrency Wednesday during a panel discussion on digital currencies organized by the Bank for International Settlements (BIS).
Noting that new forms of digital money, including cryptocurrencies and stablecoins,....
"Stop f**king up your bulls**t DeFi scams and expecting exchanges to bail you out," Powell said.
Bitcoin was back in the red on Wednesday, as U.S. Federal Reserve Chair Jerome Powell called for more regulation in decentralized finance (defi), citing “structural issues” as a key reason. The token fell below $19,000 on the comments, moving closer to a key support point as a result. Ethereum also slipped following yesterday’s rebound, with the price back below $1,300. Bitcoin Bitcoin (BTC) was back in the red on Wednesday, as markets reacted to comments from U.S. Federal Reserve Chair Jerome Powell. Speaking on Tuesday evening, Powell stated that more regulation is....