A closer look at how the cryptocurrency industry is already addressing a lot of the issues brought up by the Fed.
“Risk of fraud and scams among crypto-asset sector participants…”countermeasures to fraud and scams. DeFi is short for “decentralized finance.” Developers for these platforms are constantly scripting up fraud and scam defenses for the blockchain.
This was true for many companies that experienced insolvency in 2022 as the crypto price winter wore on. That includes crypto companies like Blockfi, Genesis, 3 Arrows Capital, FTX, and more.
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