Fed’s Powell: DeFi needs appropriate regulation before expanding to retail

United States Federal Reserve chairman Jerome Powell has spoken out about the expansion of decentralized finance (DeFi) and its impact on the traditional finance ecosystem, calling for appropriate regulation.

During an event titled the “Opportunities and challenges of the tokenisation of finance” hosted by the Banque de France on Sept. 27, Jerome Powell said there were “very significant structural issues around the lack of transparency” in the DeFi ecosystem.

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