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Crypto and Defi Could Pose ‘Real Risks’ to Financial Stability – Regulation Bitcoin News – JibGlobe

Crypto and Defi Could Pose ‘Real Risks’ to Financial Stability – Regulation Bitcoin News – JibGlobe #Crypto #Defi #Pose #Real #Risks #Financial #Stability #Regulation #Bitcoin #News #JibGlobe Welcome to JibGlobe, here is the new resources we have for you today:

The president of the European Central Bank (ECB), Christine Lagarde, says crypto property and decentralized finance (defi) have the potential to pose “real risks” to monetary stability. She has some regulatory ideas to complement Europe’s Markets in Crypto Assets Regulation (MiCA) invoice.

Lagarde on Crypto Regulation

ECB President Christine Lagarde talked about cryptocurrency regulation on the European Parliament’s Committee on Economic and Monetary Affairs listening to Monday. She mentioned:

We consider, as we’re embarking on this work regarding crypto property and the danger that they pose, that crypto property and decentralized finance (defi) have the potential to pose actual dangers to monetary stability.

“This would be particularly the case if the rapid growth of crypto-asset markets and services continue … and the interconnectedness with both the traditional financial sector and the broader economy is intensified,” the ECB chief added.

However, she famous: “For the moment, the links between the private sector crypto assets and traditional finance remain still limited — for the moment.”

Lagarde proceeded to discuss concerning the Markets in Crypto Assets Regulation (MiCA) invoice. She emphasised that the European Systemic Risk Board (ESRB), which she chairs, “supports the need for quick adoption and implementation” of MiCA.

The ECB chief famous that she is inspired by the progress of MiCA. However, she added that to her understanding, it “will not be implemented until 2024,” which she pressured “is a long way away.”

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