• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, August 12, 2022
Online Crypto College
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
Online Crypto College
No Result
View All Result

Regulating crypto assets would protect ‘the rest of us’: Fed’s Waller

June 3, 2022
in Regulation
Reading Time: 4 mins read
A A
ShareShareShareShareShare

Representations of virtual cryptocurrencies are placed on U.S. Dollar banknotes in this illustration taken November 28, 2021. REUTERS/Dado Ruvic

Register now for FREE unlimited access to Reuters.com

June 3 (Reuters) – Better regulation of the fast-growing world of crypto assets is needed not to keep rich people from losing money but for the sake of everyone else, Federal Reserve Governor Christopher Waller said on Friday.

“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 remarks prepared for delivery to the SNB-CIF Conference on Cryptoassets and Financial Innovation in Zurich.

In particular, he said, the aim of regulation would be “to protect society from the often-irresistible pressure to socialize the losses of investors with limited resources, and to limit the spread of financial stress.”

Register now for FREE unlimited access to Reuters.com

In the last five years crypto assets have proliferated from a niche market valued at around $14 billion to a $3 trillion industry.

Several high-profile collapses in the crypto world recently have prompted calls for better guardrails for what’s essentially an unregulated market. One reason: their popularity. A recent Fed survey showed about 12% of U.S. adults used or held cryptocurrency in the past year, mostly for investment purposes. Other surveys suggest the number of crypto-users is even higher.

Related articles

S. Korea Financial Watchdog Eye Crypto Laws

August 12, 2022

Robinhood Faces First Virtual Currency Business Enforcement Action

August 11, 2022

In March President Joe Biden directed the Treasury and other agencies to start looking at how best to regulate the industry, even as central banks around the world – including the Fed – look into the possibility of creating a central-bank-backed digital currency.

Waller is among those at the Fed who say they don’t see a reason for issuing a central bank digital currency that would compete with privately backed digital currencies.

On Friday he laid out his reasoning for why those privately backed currencies do need better oversight, despite arguments from inside the industry that the markets are better left to their own devices so as to foster more innovation.

Register now for FREE unlimited access to Reuters.com

Reporting by Ann Saphir
Editing by Chizu Nomiyama

Our Standards: The Thomson Reuters Trust Principles.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Crypto platform FTX has a different model for futures trading; not everyone likes it

Next Post

New York Bill That Aims to Establish a Bitcoin Mining Moratorium Awaits Governor Hochul’s Signature – Mining Bitcoin News

Related Posts

S. Korea Financial Watchdog Eye Crypto Laws

August 12, 2022

The South Korean finance watchdog is looking at fast-tracking a review of proposals for new crypto laws, a Coindesk report...

Robinhood Faces First Virtual Currency Business Enforcement Action

August 11, 2022

Related Practices & Jurisdictions Thursday, August 11, 2022 In what is the New York Department of Financial Services’ (NYDFS) first...

Bitcoin's Next Move After Rally to 2-Month High – CoinDesk

August 11, 2022

Bitcoin's Next Move After Rally to 2-Month High  CoinDesk Credit: Source link

Uzbekistan Moves to Block Foreign Cryptocurrency Exchanges – Regulation Bitcoin News

August 11, 2022

Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its...

Top US Regulatory Agencies Seek To Mandate New Crypto Disclosure Guidelines for Private Funds

August 11, 2022

Two prominent US regulators are looking to add beefed-up crypto disclosure guidelines for private hedge funds. According to a recent...

Load More
Next Post

New York Bill That Aims to Establish a Bitcoin Mining Moratorium Awaits Governor Hochul's Signature – Mining Bitcoin News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

BlackRock launches spot Bitcoin private trust after Coinbase deal

August 11, 2022

Bitcoin Long-Term Holders Have Shifted To Distribution Recently

August 8, 2022

Merit Circle Partners Crypto Raiders, an NFT-Based Dungeon Crawler

August 10, 2022

Crypto Broker Genesis Says Lending Business Declined in Q2

August 11, 2022

Why hackers are able to steal billions of dollars worth of cryptocurrency

August 11, 2022

About Us

This is an online news portal that aims to provide the latest Crypto news, Altcoins, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • Maven 11 Launches $30m Loan Pool on Defi Lending Protocol Maple Finance
  • Celo Foundation to Help African Startups Scale Via Web3 Fund
  • MakerDAO founder proposes converting $3.5B USDC reserve to Ethereum

Newsletter

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$23,886.00-2.65%
  • ethereumEthereum(ETH)$1,887.73-0.10%
  • tetherTether(USDT)$1.00-0.01%
  • usd-coinUSD Coin(USDC)$1.00-0.15%
  • binancecoinBNB(BNB)$323.34-2.10%
  • rippleXRP(XRP)$0.376699-1.23%
  • cardanoCardano(ADA)$0.53-1.05%
  • Binance USDBinance USD(BUSD)$1.00-0.22%
  • SolanaSolana(SOL)$42.95-2.75%
  • polkadotPolkadot(DOT)$9.22-1.49%
  • dogecoinDogecoin(DOGE)$0.071247-0.23%
  • AvalancheAvalanche(AVAX)$28.74-2.94%
  • Lido Staked EtherLido Staked Ether(STETH)$1,835.890.33%
  • Shiba InuShiba Inu(SHIB)$0.000012-0.41%
  • daiDai(DAI)$1.00-0.12%
  • matic-networkPolygon(MATIC)$0.92-1.58%
  • tronTRON(TRX)$0.070144-0.88%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,888.00-2.60%
  • ethereum-classicEthereum Classic(ETC)$42.589.98%
  • OKBOKB(OKB)$20.225.76%
  • leo-tokenLEO Token(LEO)$4.760.18%
  • litecoinLitecoin(LTC)$61.70-0.19%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.77-1.64%
  • chainlinkChainlink(LINK)$9.171.64%
  • UniswapUniswap(UNI)$8.99-2.29%
  • FTXFTX(FTT)$30.42-5.44%
  • CronosCronos(CRO)$0.1532730.06%
  • cosmosCosmos Hub(ATOM)$11.66-2.76%
  • stellarStellar(XLM)$0.125475-0.42%
  • FlowFlow(FLOW)$2.93-4.89%
  • moneroMonero(XMR)$163.75-1.07%
  • bitcoin-cashBitcoin Cash(BCH)$141.19-1.67%
  • algorandAlgorand(ALGO)$0.361736-1.55%
  • vechainVeChain(VET)$0.0330870.88%
  • filecoinFilecoin(FIL)$8.49-2.44%
  • ApeCoinApeCoin(APE)$6.93-1.69%
  • Internet ComputerInternet Computer(ICP)$8.16-2.50%
  • decentralandDecentraland(MANA)$1.05-2.02%
  • ChainChain(XCN)$0.087244-0.31%
  • HederaHedera(HBAR)$0.0818422.44%
  • tezosTezos(XTZ)$1.89-2.51%
  • The SandboxThe Sandbox(SAND)$1.31-2.09%
  • QuantQuant(QNT)$125.47-1.11%
  • Axie InfinityAxie Infinity(AXS)$18.46-1.64%
  • theta-tokenTheta Network(THETA)$1.60-0.26%
  • AaveAave(AAVE)$109.09-0.58%
  • ElrondElrond(EGLD)$64.61-4.77%
  • FraxFrax(FRAX)$0.99-0.79%
  • Lido DAOLido DAO(LDO)$2.56-6.19%
  • eosEOS(EOS)$1.300.60%