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BIS Sees 'Important Role' for DeFi, Pushes for Increased Regulation
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cryptonews.comA new report from the Bank for International Settlements (BIS), sometimes called the central bank of central banks, has come to a somewhat unexpected conclusion that decentralized finance (DeFi) could play “an important role” in the traditional financial system - but warned about potential financial instability.
According to the report, titled DeFi risks and the decentralisation illusion, DeFi could, with certain technical and regulatory improvements, become a much more important and integrated part of the broader financial system than it is today.
“History shows that the early development of novel technologies often comes with bubbles and loss of market integrity, even while generating innovations that could potentially be of broader use
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