Fed governor explains who needs crypto regulation and why demand for it is growing By Cointelegraph


Fed governor explains who needs crypto regulation and why demand for it is growing

Regulation is needed to open the crypto ecosystem to a larger public, United States Federal Reserve Board Governor Christopher Waller told an audience at the SNB-CIF Conference on Cryptoassets and Financial Innovation in Zurich, Switzerland. Financial intermediaries can help manage risk for new crypto users, but cannot eliminate it, Waller said, and new and fast-growing financial products need public confidence to survive.

The banking official used historical examples to show the relationship between technical innovation, regulation and the amassing of fortunes. “New technology — and a lack of clear rules — meant some new fortunes were made, even as others were lost,” Waller said.

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