RBI Releases Financial Stability Report With Mention of DeFi, US Efforts to Regulate Crypto Sector
The Reserve Bank of India (RBI) has published its latest Financial Stability Report (FSR) that outlines important events that have recently taken place in the national and international banking and fintech sector. The domain of decentralised finance (DeFi) earned a brief mention in RBI's report wherein the central bank, discussed the focus of global bodies on developments in the sector. The RBI has also touched upon efforts by the US to regulate the crypto sector.RBI's FSR report mentions DeFi technologyIn its FSR report, the RBI acknowledged that digital financial systems have seen adoption around the world, leading to the creation of newer business models and financial distribution channels.The advanced technologies of distributed ledger (blockchain), cloud computing, artificial intelligence (AI), and machine learning (ML), as per the RBI, have shown to have pertinent implications for financial systems around the world.Talking in particular about DeFi, the report said that global regulatory bodies like the Financial Action Task Force and...
The Reserve Bank of India (RBI) has published its latest Financial Stability Report (FSR) that outlines important events that have recently taken place in the national and international banking and fintech sector. The domain of decentralised finance (DeFi) earned a brief mention in RBI’s report wherein the central bank, discussed the focus of global bodies on developments in the sector. The RBI has also touched upon efforts by the US to regulate the crypto sector.
William Garcia
Boston
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