BIS to Examine ‘Safe DeFi’ And CBDCs Next Week 

The debate regarding Decentralized Finance (DeFi) and CBDCs seems never-ending. On Monday, a few officials from the central banks, crypto exchanges, few cryptoprenuers will join a conference hosted by The Bank for International Settlements (BIS). It will be live-streamed from Zurich and the topic of discussion will be “Does Safe DeFi Require CBDCs?”

The focus of the conference is to get an understanding of the evolving market of DeFi, the role of the regulators, and the possible interaction decentralized finance will have with Central Bank Digital Currencies (CBDCs). The discussion will also include the latest developments, DeFi’s role in the future markets, its relations with stablecoins, and the obstacles and opportunities that lay ahead of DeFi and CBDCs. 

The General Manager of the Bank for International Settlements, Agustin Carstens will deliver the welcome address and the closing remarks will be from Andrea Maechler, a member of the Governing Board, National Bank. There will also be representatives like David Puth from Centre, Amit Chaudhary from Polygon, Ekaterina Anthony from Crypto Valley Association, Lex Sokolin from Consensys, and others. 

The President and CEO of the Federal Reserve Bank of New York, said, “We need a really effective regulatory structure around cryptocurrencies in general, and stablecoin[s]. I do think there’s going to be an enormous amount of innovation going on in the financial system,” as reported by the Block.

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Shreya Bhattacharya

A journalist & writer exploring new topics every day!