Fed’s Brainard urges the establishment of sound regulation of the cryptocurrency financial system “now.”
Vice President of the Federal Reserve Lilly Bernard emphasized the importance of creating an audio system for the cryptographic financial system, saying: “Now, before the encrypted system is too high or linked, it can create a wide stability of the financial system.” Lel Bernard, Vice President of the Board of Directors of the Federal Reserve Reserve, spoke about cryptocurrency and a decentralized regulatory budget at the British Bank Conference in London. He started with a recent unstable nature in the cryptographic market, saying that “it was a serious impact on the cryptographic financial system.” “Both traditional financial systems and encryption -risk -alienation, solution, matt, maturity, and liquid,” he said. “It’s just faster, cheap, and it includes everything and the power to do it in the native digital environmental system,” Brainard said. Before the encryption system is large or linked. The vast stability of the financial system can be dangerous.
Emphasizing the need for national and international cooperation, the Vice President of the Federal Reserve System said: “Recent shocks among retail investors in cryptocurrency, an urgent need to ensure existing laws, and, for example, from -laws or from -laws and operating systems. Brainard continued: If the surveillance environment covers an encryption system and the same risk, the same exhibition reflects the principle of the same regulatory consequences, and future financial recovery is improved. On Thursday, the U.S. Treasury Department presented President Joe Biden with a framework for international interaction with cryptocurrencies. The Ministry of Finance has emphasized the importance of working with international allies to develop global digital currency standards to regulate digital assets.