Bitcoin News Crypto News DeFi Regulation ECB Chief Lagarde: Crypto and Defi Could Pose ‘Real Risks’ to Financial Stability – Regulation Bitcoin News June 25, 2022 Alex Rustok Please follow and like us: Ads by Kevin Helms The president of the European Central Bank (ECB), Christine Lagarde, says crypto assets and decentralized finance (defi) have the potential to pose “real risks” to financial stability. She has some regulatory suggestions to supplement Europe’s Markets in Crypto Assets Regulation (MiCA) bill.ECB President Christine Lagarde talked about cryptocurrency regulation at the European Parliament’s Committee on Economic and Monetary Affairs hearing Monday. She said:We believe, as we are embarking on this work concerning crypto assets and the risk that they pose, that crypto assets and decentralized finance (defi) have the potential to pose real risks to financial stability.“This would be particularly the case if the rapid growth of crypto-asset markets and services continue … and the interconnectedness with both the traditional financial sector and the broader economy is intensified,” the ECB chief added.However, she noted: “For the moment, the links between the private sector crypto assets and traditional finance remain still limited — for the moment.”Lagarde proceeded to talk about the Markets in Crypto Assets Regulation (MiCA) bill. She emphasized that the European Systemic Risk Board (ESRB), which she chairs, “supports the need for quick adoption and implementation” of MiCA.The ECB chief noted that she is encouraged by the progress of MiCA. However, she added that to her understanding, it “will not be implemented until 2024,” which she stressed “is a long way away.”Lagarde then suggested some additional provisions to the current MiCA bill. Referring to the MiCA bill with add-on provisions as MiCA2, she explained that MiCA2 “Should address the risk of interconnectedness with respect to financial institutions’ exposure to crypto assets.”It should also “fully cover decentralized finance (defi)” and regulate crypto staking and lending activities, she said. The ECB boss noted that the current MiCA bill does not cover bitcoin but she hopes it will be covered in MiCA2.What do you think about the comments by ECB President Christine Lagarde? Let us know in the comments section below.A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Image Credits: Shutterstock, Pixabay, Wiki CommonsDisclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Tony Hawk’s Latest NFTs to Come With Signed Physical SkateboardsLast December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs … read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 DaysTransaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized … read more.Check all the news here source Ads Source link Please follow and like us: Related Tags: Bitcoin, Chief, Crypto, cryptocurrency news, Defi, ECB, Financial, Lagarde, news, pose, real, Regulation, Risks, Stability Continue Reading Previous Crypto was in full swing at Collision Conference, June 17–23Next What if the Fed can’t stop inflation? This is when Bitcoin’s bear market could reverse More Stories Crypto News Investors Are Beyond Excited as Top Shiba Inu Competitor Beats Roadmap With … — Investing.com March 25, 2024 Alex Rustok Altcoins News Crypto News Watch Out: There Are Massive Token Unlocks in 33 Altcoins in the New Week! Here is the Day by Day, Hour by Hour List March 25, 2024 Alex Rustok Crypto News Top 5 Best Gaming Tokens That Can 100x in 2024 — Crypto Daily March 25, 2024 Alex Rustok Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment.