HKMA chief Eddie Yue: more scrutiny of stablecoins could help reduce risks from DeFi

07/17 07:21

Eddie Yue, the Hong Kong Monetary Authority (HKMA) chief said in a panel discussion at the G20 finance officials meeting in Indonesia that more scrutiny of stablecoins could help reduce risks from decentralised finance (DeFi) projects, part of the crypto currency ecosystem. Stablecoins and crypto exchanges are gateways to DeFi projects, and Yue said it was easier to regulate them than the products themselves. "Despite the Terra-Luna incident I think crypto and DeFi won't disappear - though they might be held back - because the technology and the bushiness innovation behind these developments are likely to be important for our future financial system," Yue said.
bullishbullishbullish5bearishbearishbearishBearishLikeShare
DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

Related Articles

  • Image

    Bitcoin Retail Exits As Wallets Decline At Fastest Pace In 2 Years

  • Image

    Ethereum Shortfall Says Price Is Headed Lower Unless This Happens

  • Image

    Top Coins Gaining Attention as Bitcoin Stalls and Ethereum Slows, With Little Pepe (LILPEPE) Starting To Emerge

All Comments0LatestHot

avatar
LatestHot

Related Articles

  • Image

    Bitcoin Retail Exits As Wallets Decline At Fastest Pace In 2 Years

  • Image

    Ethereum Shortfall Says Price Is Headed Lower Unless This Happens

  • Image

    Top Coins Gaining Attention as Bitcoin Stalls and Ethereum Slows, With Little Pepe (LILPEPE) Starting To Emerge