Crypto, DeFi may widen wealth gap, destabilize finance: BIS report

Crypto, DeFi may widen wealth gap, destabilize finance: BIS report

The Bank for International Settlements warns that crypto and stablecoins may destabilize finance and widen inequality, urging stronger regulation in response. The growing adoption of cryptocurrencies may pose risks to the traditional financial system and exacerbate wealth inequality, according to the Bank for International Settlements (BIS). In an April 15 report, the BIS warned that…

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Fed's Powell reasserts support for stablecoin legislation

Fed's Powell reasserts support for stablecoin legislation

“Stablecoins are a digital product that could actually have fairly wide appeal and should contain consumer protections,” Powell said. As digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea,” said US Federal Reserve Chair Jerome Powell. In an April 16 panel at the Economic Club of Chicago, Powell commented…

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Italy finance minister warns US stablecoins pose bigger threat than tariffs

Italy finance minister warns US stablecoins pose bigger threat than tariffs

Italy’s Minister of Economy and Finance Giancarlo Giorgetti said US stablecoins’ appeal to Europeans should not be underestimated. Italy’s minister of economy and finance warned that US stablecoin policies are more concerning than President Donald Trump’s tariffs, citing the potential for these crypto assets to undermine the euro’s dominance in cross-border payments. Speaking at an…

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Here’s what happened in crypto today

Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, Ethena Labs has exited the German market after regulators flagged “deficiencies” in its USDe stablecoin. In El Salvador, new data from the central bank…

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EU markets regulator says crypto may cause ‘broader stability issues’ as market grows

EU markets regulator says crypto may cause ‘broader stability issues’ as market grows

As the crypto industry grows and ties in with traditional markets, sharp price falls could increasingly disrupt the broader market, says ESMA executive director Natasha Cazenave. The European Securities and Markets Authority (ESMA) has warned that crypto will increasingly threaten traditional financial markets’ stability as the industry grows and becomes more entwined with traditional finance…

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