The Financial Stability Board (FSB), the financial regulator funded by the Bank for International Settlements (BIS), is pushing international regulations for decentralized finance (DeFi). The FSB on Feb. 16 issued a report on the financial stability risks of DeFi, highlighting major vulnerabilities, transmission channels, and the evolution of DeFi. Despite providing many “novel” services, DeFi […]
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said that Bitcoin was the only cryptocurrency he was prepared to publicly label a commodity. Gensler made the comments on CNBC’s Squawk Box, where he discussed the implications of labeling particular […]
Key Takeaways Benoit Coeuré, the head of the BIS’ innovation hub, has called on central banks to act quickly in response to the rise of cryptocurrencies. Coeuré warned that “stablecoins and DeFi will challenge banks’ models.” The BIS is now more actively encouraging CBDC development by central banks. The head of the Bank for International […]
BitGo, one of the largest and oldest custodians for digital assets, is joining the fast-growing business of lending out bitcoin and other cryptocurrencies to big investors. The Palo Alto-based company announced Thursday it is now offering institutional digital asset lending services. Founded in 2013 by CEO Mike Belshe, BitGo started testing the new service a […]