Fed Chair Powell Sees ‘Real Need’ for More Appropriate Defi Regulation Citing...

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,....

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....

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....

Federal Reserve Chairman Jerome Powell says the central bank is “not really seeing significant macroeconomic implications” from crypto’s volatility. The Fed chair stressed that there is a need for a better crypto regulatory framework. Fed Chair Powell Says Crypto Needs Better Regulation Federal Reserve Chairman Jerome Powell testified before the Senate Committee on Banking, Housing, and Urban Affairs on “the semiannual monetary policy report to congress” Wednesday. Senator Kyrsten Sinema (D-AZ) asked him whether the Fed has been tracking crypto....

Federal Reserve Chairman Jerome Powell believes that there is no need for cryptocurrencies if there is a digital dollar. “I think that’s one of the stronger arguments in its favor,” he said. The Fed chair also insists that the U.S. is not in danger of losing its reserve currency status. Fed Chair Powell Thinks Cryptocurrencies Aren’t Needed When There Is Digital Dollar Federal Reserve Chairman Jerome Powell talked about cryptocurrencies, stablecoins, and a digital dollar during a congressional hearing before the U.S. House of Representatives Financial Services....