“To me, DeFi seems more like a casino for tech-savvy speculators,” Wuermeling, a member of the German central bank’s executive board responsible for bank supervision and IT, said in a speech on Thursday.
DeFi “is growing quickly and so might its ties to the rest of finance and the economy…we need to be discussing regulatory options now,” he added, though said there are “still too many hurdles to be cleared” for the technology to become fully mainstream.
“I could imagine having a global forum akin to the Basel Committee on Banking Supervision…that could set global ground rules for digital innovation,” Wuermeling said, referring to the international organization that sets capital rules for conventional lenders like Deutsche Bank and JPMorgan Chase.
‘Enforcement 40’ for 2020
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