Federal Reserve Chair Jerome Powell participated by video in a panel on digital currency hosted by the Banque de France on Sept. 27.
In his remarks he said, “The good news, I suppose, is that the interaction – from a financial stability standpoint – the interaction between the DeFi [decentralized finance, which includes cryptocurrencies] ecosystem and the traditional banking system and traditional financial system is not the large at this point. That situation will not persist indefinitely. There’s a real need for more appropriate regulation,