Lael Brainard is one of the biggest names in the cryptocurrency market. He is currently vested with the responsibility of being the vice-chair of the Fed. Lael has recently stated his concerns over the unstable market trends. The recent months have been very dark for the market. The market has experienced a wave of a downward curve recently. Big companies like Bitcoin and Ethereum have incurred huge losses as they found their prices go down significantly. To address the situation, Lael stepped in and provided much-needed insights into the matter. He suggested that the market must put a lot more emphasis on the regulation of crypto.
If there is no frequent regulation, the downward curve would amplify, resulting in severe consequences for the cryptocurrency market. Lael Brainard recently appeared at a conference at the Bank Of England. The conference took place in London. She addressed the crowds and stated that investing in the crypto market has the exact same risks as traditional ones. Thus, she stated that the market needs to be safeguarded. Brainard briefed the crowd about the general terminologies of the crypto market. Let us learn more about the story in detail below.
Lael Brainard Expresses Concerns Over Recent Crypto Trends
Lael Brainard has said that the crypto market needs to be safeguarded against the upcoming odds. She said the investors need to take a close look at factors such as equity risks, volatility, liabilities, etc. She also noted a couple of areas of concern.
Lael Brainard said that the major concern was the heavy interference of banks with cryptocurrency. She said such interference would cause stability issues for cryptos. Another reason cited by Brainard was Stablecoins. She stated that stablecoins were very much vulnerable to market runs.