High-ranking government officials openly discussed the benefits of DeFi

Source: Jake Chervinsky, Crypto Law & Policy Newsletter, Q1 2021 in Review.

For the first time, high-ranking government officials openly discussed the benefits of DeFi. In a Financial Times piece in January, Comptroller Brian Brooks explored the potential for DeFi to fight discrimination and fraud in the financial system, and told us to “get ready for self-driving banks.” Then, in a speech entitled “Atomic Trading” in February, SEC Commissioner Hester Peirce said that “DeFi’s promises of democratization, open access, transparency, predictability, and systemic resilience are alluring.”

Read more: Jake Chervinsky, Crypto Law & Policy Newsletter.

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