Regulators Should Heed Crypto Risks When Innovating Regulation, Says Chinese Central Bank Official – Regulation Bitcoin News

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A senior People's Bank of China (PBOC) official has urged regulators to consider crypto risks and bank failures when innovating regulation. cryptocurrency

Regulators Should Heed Crypto Risks When Innovating Regulation, Says Chinese Central Bank Official

Risks and fraud associated with cryptocurrency, including the two American banks who ran into troubles after providing many services for cryptocurrency from taking deposits to settlement, showed that regulators should respect rules when innovating regulation.

 

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I think its fair to say the opposite is true. Financial stability is faltering due to a lack of innovation. The financial system has been largely untouched & needs to be updated to the times. Maintaining the current system as it is will only lead to its inevitable demise.

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