September 27, 2022

UK and US regulators urged to control DeFi

Defi - decentralized finance and altcoins in spiral. Logos of the main coins of the Defi sector on a blue background. Vector EPS10.

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US and UK regulators have called for greater international cooperation. According to them, this is necessary in order to help control the decentralized finance (DeFi) sector and, in general, the entire cryptocurrency industry. Federal Reserve Chairman Jerome Powell said this is important to implement due to the growing interest and development in the field of central bank digital currencies (CBDC).

The specialist noted that in order to achieve some progress in financial development and economic stability, it is necessary to achieve a new level of cooperation. International bodies are obliged to join forces to create and harmonize the legal framework. Everything must be done to unleash the potential of digital assets and services and, at the same time, minimize risks. Powell made the announcement at the International Settlement Innovation Summit (BIS).

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