”This year’s spectacular implosion of crypto markets and the resulting failure of many prominent crypto firms have made regulators even more wary of crypto and the distributed ledger technology that underpins it. Those regulators who have taken a hard line against crypto are feeling vindicated. Those who have tried to accommodate it are feeling some remorse. This intensifying regulatory skepticism could threaten the future of crypto and the success of those who have invested in it.”
Sheila Bair delivered the keynote at the inaugural Capital Meets Policy Dialogue (1 November 2022).