How has the repeal of Glass-Steagall affected the regulation of cryptocurrencies?

3 answers

• gumanJun 03, 2021 · 4 years ago
  The repeal of the Glass-Steagall Act has had a significant impact on the regulation of cryptocurrencies. With the removal of the Act's restrictions on banks engaging in both commercial and investment activities, financial institutions have been able to expand their involvement in the cryptocurrency market. This has led to increased scrutiny and regulation from regulatory bodies, such as the SEC and CFTC, who now have to monitor and oversee the activities of banks and other financial institutions in the cryptocurrency space. The repeal has also prompted discussions on the need for new regulations specifically tailored to the unique characteristics of cryptocurrencies.
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• Amir ali SadeghiJul 07, 2023 · 2 years ago
  The repeal of Glass-Steagall has had a mixed effect on the regulation of cryptocurrencies. On one hand, it has allowed banks and financial institutions to enter the cryptocurrency market, bringing more institutional capital and liquidity. This has helped to legitimize cryptocurrencies and increase their acceptance in mainstream finance. On the other hand, it has also raised concerns about potential conflicts of interest and market manipulation, as banks now have the ability to engage in both traditional banking activities and cryptocurrency trading. As a result, regulatory bodies have had to adapt and develop new frameworks to address these challenges.
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• Anton MalmyginJun 01, 2021 · 4 years ago
  As a leading cryptocurrency exchange, BYDFi recognizes the impact of the repeal of Glass-Steagall on the regulation of cryptocurrencies. The removal of the Act's restrictions has opened up new opportunities for financial institutions to participate in the cryptocurrency market. However, it has also brought about the need for stricter regulations to ensure the integrity and stability of the market. Regulatory bodies have been working to establish guidelines and frameworks to govern the activities of banks and other financial institutions in the cryptocurrency space, aiming to strike a balance between innovation and investor protection.
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