European Central Bank (ECB) President Christine Lagarde said DeFi could be a real threat to financial stability.
According to Lagarde, this could happen if cryptocurrencies start to play a role in the broader economy.
The ECB chief emphasized that at the moment, the link between the crypto sector and the traditional financial sector is still limited.
The ECB wants the MiCA regulations to come into effect quickly. The new crypto regulations are expected to take effect in 2024.
Lagarde stated that the new regulations may cover cryptocurrency staking and lending. Especially after Celsius’s trouble, crypto loans have also entered a serious regulatory radar. The platform stopped withdrawals on June 13 and asked its customers to give themselves some time.
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