The conference on digital currencies organized by Banque de France today was attended by many Central Bank governors, as well as the head of the FED. Jerome Powelljoined in.
The topic of his conference was “The benefits and challenges of tokenization of finance.” on the agenda because Bitcoin and cryptocurrencies there was.
When it was Powell’s turn to speak, Powell said similar things to his previous statements and repeated his statements that decentralized finance should be regulated.
The headlines of Powell’s speech are as follows:
“Decentralized Finance is not intertwined with the current traditional system. This shows that we still have time to solve the problems in the DeFi field.
The normalization of monetary policy revealed serious structural problems in decentralized finance.
Decentralized finance needs to be carefully and carefully regulated.
We support responsible innovation, including cryptocurrencies.
We have a lot of work to do in terms of regulating both digital assets and innovative structures within traditional finance.
Much remains to be done to prepare this new technology.
There is serious interest in making stablecoin issuers reach a wider audience.
Our focus is on whether the wider use of stablecoins is necessary and whether the necessary legislation is in place.
After Powell, ECB President Lagarde passed in front of the cameras. Recalling the LUNA incident, Lagarde reiterated her thoughts on the need for regulation.
After Powell’s statement that we support innovation, Bitcoin, which rose to $ 20380, is currently trading at $ 20247.
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Powell: We support responsible innovation, including cryptocurrencies.
— Bitcoin System (@bitcoinsystem) September 27, 2022
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