Benoit Coeure, one of the senior managers of the Bank for International Settlements (BIS), which has duties such as ensuring that central banks work in coordination with each other and supervising the sending of money from one country to another, made statements about cryptocurrencies and decentralized financial systems (DeFi). found. Coeure said that global studies can be made for cryptocurrencies in 2022.
According to the statements made by Benoit Coeure, cryptocurrencies have grown at a level that cannot be ignored in recent years. Saying that cryptocurrencies serving different purposes have become mainstream in many sectors, the BIS administrator mentioned that DeFi has become a “wake-up service” for states.
Global studies will be conducted for cryptocurrencies
With cryptocurrencies, DeFi has come to threaten traditional financial systems, according to the BIS executive. Moreover, these systems are creating new ways for people to do anything. Stating that the regulatory and supervisory institutions can no longer remain indifferent, Benoit Coeure stated that there may be a global regulation next year. According to the traditional finance advocate speaking to the Financial Times, we are now a few years away from radical regulation in the cryptocurrency world. . .
Benoit Coeure does not find it right that great powers such as the USA, England, China and the European Union act alone. According to him, the individual actions of the mentioned countries in the cryptocurrency markets will lead to inconsistent regulations globally.
To be frank, Coeure’s comments are nothing short of intimidating (or spreading FOMO, as cryptocurrencies are known). When Bitcoin is record short, we are faced with such negative statements and news right after. Although hundreds of such statements have been made to date, Bitcoin stands tall and continues to spread globally. . .
This content is not investment advice.
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