Speech by Fed Vice Chair Lael Brainard

Crypto-Assets and Decentralized Finance through a Financial Stability Lens

Date:

Captura de Pantalla 2022-07-12 a la(s) 14

Autor: Marcelo Soba

  1. New technologies often promise to increase competition in the financial system, reduce transaction costs and settlement times, and channel investment into new productive uses
  2. However, new products and platforms are often fraught with risks, such as fraud and manipulation, and it is important, and sometimes difficult, to distinguish between hype and value
  3. "Therefore, this is the right time to ensure that similar risks are subject to similar regulatory outcomes and similar disclosure, in order to help investors distinguish between genuine, responsible innovation and the false allure of seemingly easy returns that conceal significant risk," the vice chairwoman said, according to text posted on the Fed's website.