Fed’s Powell says real need for DeFi regulation because of ‘significant structural issues’

Federal Reserve Chairman Jerome Powell ramped up his criticism of decentralized finance on Tuesday, saying the monetary policy normalization worldwide has “revealed significant structural issues in the DeFi ecosystem” and laid bare “conflict of interest,” as he called for more appropriate regulation.
“Within the DeFi ecosystem, there are these very significant transparency, lack of transparency [issues],” he said at a conference hosted by the Banque of France.
From the financial stability standpoint, Powell said, “the interaction between the DeFi ecosystem and traditional ban

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