The Fed will regulate the DeFi market

Federal Reserve Chairman Jerome Powell believes that the DeFi market is having a profound effect on the traditional financial system.
This industry is expanding, and the number of investors testing the possibilities of decentralized financing protocols is increasing. Therefore, it is necessary to establish control over DeFi projects.
The ecosystem has suffered major losses over the year, along with the rest of the digital currencies. Many investors have suffered as a result, Powell said at an event hosted by the Bank for International Settlements (BIS).

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