Powell: Crypto market downturn gives regulators 'more time'

The current crypto market downturn gives regulators more time to pass “appropriate” regulations, according to Federal Reserve Chair Jerome Powell.

The ongoing downturn in cryptocurrency markets is giving global regulators “more time” to identify the weaknesses and work that needs to be done, says Jerome Powell, Chair of the U.S. Federal Reserve. The overlap between traditional finance and banking systems and decentralized finance is limited, which Powell argued is good news for regulators.

There are several pressure points that need more work, according to Powell, regarding novelties like the need to regulate unhosted wallets or algorithms.

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To load their bags

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