Today news
About the same in other media
‘Decentralization illusion’: Central bank group urges regulation of DeFi crypto platforms
Reading now: 631
cnbc.comIn this article
The central bank of central banks is worried about «decentralized finance.»
The Bank for International Settlements, an umbrella group for central banks, said in a report this week that it's concerned there's a «decentralization illusion» in DeFi.
DeFi is a rapidly-growing part of the cryptocurrency market that promises to deliver traditional financial products like loans and savings accounts without involvement from regulated middlemen such as banks.
But regulators are increasingly concerned about platforms offering DeFi services that may not be as «decentralized» as advertised.
«What we found is that, first, the decentralized aspect tends to be illusive,» Agustín Carstens, general manager of the BIS, told CNBC's Julianna
Read more on cnbc.comAbout this in other media
Canada Renews Central Bank’s Inflation-Targeting Mandate wsj.com /3 years ago
CBDC: European Central Bank exec worries digital euro may hurt foreign currencies ambcrypto.com /3 years ago
Allowing cryptocurrency may erode central bank's control over money supply: Former RBI Guv economictimes.indiatimes.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
