Regulators Should Use ‘Range of Options’ in Fintech, Fed’s Barr Says

“Crypto-assets have grown rapidly in the last several years, both in market capitalization and in reach,” said Barr. “But recent fissures in these markets have shown that some crypto-assets are rife with risks, including fraud, theft, manipulation, and even exposure to money-laundering activities … Crypto-asset-related activity, both outside and inside supervised banks, requires oversight that includes safeguards to ensure that crypto service providers are subject to similar regulations as other financial services providers.”