Bloomberg Law
May 12, 2022, 8:40 AM

Crypto Assets Need Proactive Global Regulation, De Cos Says

Alonso Soto
Alonso Soto
Bloomberg News

“Fast-paced developments in DeFi and cryptoassets necessitate a proactive and forward-looking regulatory and supervisory approach,” according to Bank of Spain Governor Pablo Hernandez de Cos.

  • “In deciding how best to harness the potential benefits from such developments while mitigating their risks in a world of uncertainty, it makes sense to err on the side of caution and prudence,” De Cos, who’s also chairman of the Basel Committee on Banking Supervision, says in speech in Madrid
  • “If there are unregulated areas of the financial system, including the emergence of a ‘shadow’ crypto financial system, then the appropriate response is to ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.