US Senator Elizabeth Warren calls for more regulation for decentralised finance (DeFi), with stablecoins in particular focus, in light of imminent risks posed to consumers.
In a tweet posted on Dec 15, Warren warned regulators that stablecoins are “propping up one of the shadiest parts of the crypto world, DeFi” for them “to get serious about clamping down before it is too late.”
This is just the latest episode of Warren’s ongoing war with the larger crypto industry. Earlier in July, Warren sent a letter to US Treasury Secretary Janet Yellen petitioning for greater oversight of the crypto industry. “The hype, the volatility, the wild claims that turn out to be false. As the crypto market grows, so do the risks to our financial stability and our economy,” Warren wrote.
Meanwhile, billionaire Ray Dalio revealed that he owns ether and called cryptocurrencies “impressive” in a recent interview. The founder and co-CIO of the world's biggest hedge fund Bridgewater Associates told Yahoo Finance that he is a huge advocate of diversification, and cryptocurrencies make up "a relatively small part" of his portfolio.
"I view it as an alternative money in an environment where the value of cash money is depreciating in real terms," Dalio said.
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He also added that cash might just be “the worst investment” in this day and age.
Binance is in talks with UAE regulators on opening headquarters in the Gulf Arab nation.
According to a Bloomberg report, Binance has also tapped former senior officials at the economic zones in recent months, namely Mark McGinness from Dubai Financial Services Authority, which regulates Dubai International Financial Centre, and Matt Gamble from Abu Dhabi Global Market.