Financial Stability Board: Decentralized financial technology applications or financial stability in some respects

On June 6, the Financial Stability Board (FSB) released the report "Decentralised financial technologies: Report on financial stability, regulatory and governance implications", the report said, go The application of centralized financial technologies and the more decentralized financial systems they may bring may contribute to financial stability in some respects. It can also lead to greater competition and diversity in the financial system and reduce the systemic importance of some existing entities. At the same time, the use of decentralization technology may pose risks to financial stability. These factors include the centralization of ownership and operations of critical infrastructure and technology, and the greater degree of procyclicality of decentralized risk-taking activities. New uncertainties regarding the determination of legal liability and consumer protection may also affect public trust in the financial system. The recovery and resolution of decentralized structures can be more difficult. These issues may pose challenges to financial regulation and regulatory frameworks.