Fed’s Waller Says Crypto Regulation Might Help Prevent Bailouts

Federal Reserve Governor Christopher Waller said regulation of crypto trading might be desirable to keep taxpayers from being asked to compensate for losses in a new, volatile market, as well as to prevent bigger market stresses.

“The main issue in crypto-asset regulation isn’t how to protect sophisticated crypto investors; it’s how to protect the rest of us,” Waller said in the text of remarks for a conference in Zurich, Switzerland. “It’s not to protect high-net-worth investors but to protect society from the often-irresistible pressure to socialize the losses of investors with limited resources, and to limit the spread of financial …