Crypto Industry Should Face Tougher Regulations, Fed Vice Chairwoman Says

Federal Reserve Vice Chairwoman Lael Brainard says better guardrails are needed for cryptocurrencies. She says the crypto financial system is susceptible to risks "that are all too familiar from traditional finance" Ms. Brainard: "Leverage, settlement, opacity, maturity and maturity and liquidity transformation" is a concern for small investors, she says. The risks include leverage, settlement and opacity, and maturity, she adds, according to a speech in London, her prepared remarks say in the U.S. She says in her remarks, "Crypto financial system turns out to be susceptible to... risks that are... familiar from... traditional finance, such as leverage and settlement,... and maturity... transformation,” she said. The comments come from Source