Former FDIC Chair Sheila Bai Urges Congress to Step Up on Cryptocurrency Regulations

  • Alex Dovbnya
    📰 News

    Former FDIC chair Sheila Bai has recently weighed in on the current state of the cryptocurrency market and Blockchain during her recent interview with Yahoo! Finance


Former FDIC Chair Sheila Bai Urges Congress to Step Up on Cryptocurrency Regulations

Former FDIC chair Sheila Bai has recently weighed in on the current state of the cryptocurrency market and Blockchain during her recent interview with Yahoo! Finance. According to Bai, cryptocurrencies represent a legitimate new asset class, but some of them might not be particularly valuable. Hence, she urges investors to be extremely cautious. She also states that the general public has to distinguish digital assets from Blockchain technology.

Bai is certain that the US Congress should design a federal regulatory framework for marketing and trading cryptocurrencies. She explains that these regulations should focus on preventing money laundering and market manipulations.  

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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