Defiance ETFs CIO Sylvia Jablonski reacts to Federal Reserve Chairman Powell saying central bank digital currency needs to be ‘intermediated.’
Bitcoin was around $44,000 after trading higher in two of the last three days heading into Friday.
The cryptocurrency is trading up more than 5% month-to-date, but down more than 5% year-to-date.
The Bank of England on Thursday focused on regulating cryptoassets.
It was developing Britain’s first regulatory framework for cryptoassets, saying their rapid growth could pose risks to financial stability if left unregulated, according to Reuters.
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Concerns about cryptoassets have been heightened since Russia invaded Ukraine amid concerns they could be used to circumvent financial sanctions
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Cryptoassets are largely unregulated as they fall outside the so-called regulatory perimeter.
A change in laws would be needed to bring them inside the full scope of UK securities rules.
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The sector grew tenfold globally between early 2020 and November 2021, and now stands at $1.7 trillion or 0.4% of global financial assets.
