First, on the Brief:
- Banks and bitcoin
- Coinbase’s cash reserves
- Brian Quintenz’s CFTC departure
In the main discussion, NLW addresses decentralized finance’s (DeFi) place in regulations as crypto continues to be on the minds of policymakers. Contention across U.S. regulatory bodies remains as the Federal Reserve’s concern with stablecoins, the Treasury Dept. with the infrastructure bill and the Securities and Exchange Commission’s Gary Gensler attempting to create the broadest reach on crypto regulations his organization can manage.
In The Wall Street Journal’s recent interview with Gary Gensler, the SEC chair claimed a particular focus on DeFi. He stated that core software developers, promoters and sponsors would be centralizing factors, calling the term DeFi a “misnomer.”
How will DeFi’s future unfold as it becomes increasingly important for both investors and regulators?
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