“We have seen crypto trading platforms and crypto lending firms not only engage in activities similar to those in traditional finance without comparable regulatory compliance, but also combine activities that are required to be separated in traditional financial markets,” she said at the Bank of England event. “For example, some platforms combine market infrastructure and client facilitation with risk-taking businesses like asset creation, proprietary trading, venture capital and lending.”
Source: https://www.coindesk.com/policy/2022/07/08/us-fed-vice-chair-brainard-doesnt-like-what-shes-seeing-in-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines