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Barr: Supporting Innovation with Guardrails: The Federal Reserve’s Approach to Supervision and Regulation of Banks’ Crypto-related Activities
I'm here today to discuss what we have learned from the recent turmoil in the crypto sector and what role supervision and regulation should play in helping banks manage their engagement with the sector and the innovative technologies that support it. Despite recent events, we have not lost sight of the potential transformative effect that these technologies could have on our financial system. And we need to be careful lest regulation lock in the power of incumbents or stifle innovation. But the benefits of innovation can only be realized if appropriate guardrails are in place. I am going to talk about how we are ... (full story)
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Fed's barr: recent experience shows that crypto could pose risks to banks, though exposure has been limited thus far.
— BTBMarkets (@BTBMarkets) March 9, 2023
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FED'S BARR: CRYPTO TECHNOLOGY HAS POTENTIAL TRANSFORMATIVE EFFECTS BUT REQUIRES "APPROPRIATE GUARDRAILS."
— Breaking Market News (@financialjuice) March 9, 2023
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Barr: Banks Expected to Notify Fed Before Engaging With Crypto
— *Walter Bloomberg (@DeItaone) March 9, 2023
Barr: Fed Would View It as Unsafe for Banks to Directly Own Crypto Assets
Barr: Fed Creating Team of Experts to Study Crypto Innovation
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FED'S BARR/PETERSON: BLOCKCHAIN TECHNOLOGY HOLDS PROMISE FOR TRANSACTION EFFICIENCY, LINKING SECURITIES & CASH MKTS, 'SMART' CONTRACTS, COST SAVINGS #Barr #FederalReserve @cryptocurrency
— Mace News (@MaceNewsMacro) March 9, 2023
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