US FED’s Chair Jerome Powell Restated Regulations To Digital Finance

Federal Reserve Chair Jerome Powell reiterated his viewpoints about digital finance regulatory requirements in the discussion panel organized by Banque de France.

“Within the decentralized finance ecosystem there are these very significant structural issues around the lack of transparency,” Powell said.

Jerome Powell also noted that stablecoins or other pegged-value coins differ from unbacked crypto and must be monitored strictly. These coins could affect the entire economy as they are based on the US dollar and other main conventional fiat currencies.

US FED's Chair Jerome Powell Restated Regulations To Digital Finance
Jerome Powell Restated Regulations To Digital Finance

FED chair concerns force those policymakers to impose regulations in the wake of a recent crypto crash like the TerraUSD (UST) stablecoin collapse, which could cause tremendous impacts on investors around the world.

“We need to be very careful about how crypto activities are taken within the regulatory perimeter…there’s a real need for more appropriate regulation so that as decentralized finance expands and starts to touch more and more retail customers, appropriate regulation is in place…they need ‘same risk, same regulation’ wherever they take place.” He added in this panel discussion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Ken

CoinCu News

US FED’s Chair Jerome Powell Restated Regulations To Digital Finance

Federal Reserve Chair Jerome Powell reiterated his viewpoints about digital finance regulatory requirements in the discussion panel organized by Banque de France.

“Within the decentralized finance ecosystem there are these very significant structural issues around the lack of transparency,” Powell said.

Jerome Powell also noted that stablecoins or other pegged-value coins differ from unbacked crypto and must be monitored strictly. These coins could affect the entire economy as they are based on the US dollar and other main conventional fiat currencies.

US FED's Chair Jerome Powell Restated Regulations To Digital Finance
Jerome Powell Restated Regulations To Digital Finance

FED chair concerns force those policymakers to impose regulations in the wake of a recent crypto crash like the TerraUSD (UST) stablecoin collapse, which could cause tremendous impacts on investors around the world.

“We need to be very careful about how crypto activities are taken within the regulatory perimeter…there’s a real need for more appropriate regulation so that as decentralized finance expands and starts to touch more and more retail customers, appropriate regulation is in place…they need ‘same risk, same regulation’ wherever they take place.” He added in this panel discussion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Ken

CoinCu News

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