A top official at the U.S. Federal Reserve says the public will clamor for the regulation of the crypto markets as losses continue to pile up.
In a new speech at the SNB-CIF Conference on Cryptoassets and Financial Innovation in Switzerland, Fed Governor Christopher Waller says that regulations for digital assets will ultimately be demanded by investors as they continue to suffer heavy losses.
“From a social perspective, there is another possible outcome when losses become widespread: those losses become practically, politically or morally intolerable. When everyday investors start losing their life savings, for no reason except wanting to participate in a hot market, demands for collective action can mount quickly.
History shows that there will be demands to make individual investors ‘whole’ by