Denis Beau, senior official of the French central bank, talked about DeFi and CBDCs. Beau said current regulatory frameworks are constrained by DeFi’s capabilities.
Bank of International Settlements (BIS) released a speech on Sunday, November 19th. In the speech, Beau, the senior official of the French central bank, focused on CBDCs and the institution’s pilot program. Beau also talked about crypto-asset regulations in Europe and said that other regulatory changes, which he says are very important, will also need to be introduced. Saying that he meant DeFi, Beau used the following statements:
“I am specifically talking about the control of decentralized finance, where the usual regulatory frameworks are constrained by the fact that issuers and service providers are not easily identified and have no fixed jurisdiction for the services provided, in an environment where protocols are executed automatically without intermediaries. ”
These statements of Beau coincide with the attitude in the USA. SEC Chairman Gensler also made some statements in the past weeks regarding the need to regulate DeFi. Bitcoin supporter SEC member Hester Peirce thinks DeFi will challenge the way it is regulated.
