Experienced investors shrewdness to survive, christopher waller reasons, but there is wide repercussions when little investors are hit with losses.
Regulation is needed to open the crypto ecosystem to a bigger public, us Fed Board Governor christopher waller told an audience at the SNB-CIF Conference on Cryptoassets and money Innovation in city, European nation. money intermediaries will help manage risk for new crypto users, however cannot eliminate it, waller said, and new and fast-growing money product would like public confidence to survive.
The banking official used historical examples to show the connection between technical innovation, regulation and also the amassing of fortunes. “New technology — and a lack of clear rules — meant some new fortunes were made, even as others were lost,” waller said.
Experienced investors know how to operate in unregulated marketplaces and may not would like or wish regulation, waller continued . He pointed to a recent Fed survey that showed that even with the explosive crypto-assets in recent years, solely 12% of american adults own crypto, and 99% of them hold it for investment purposes.
( Derek Andersen, Cointelegraph, 2022 )