Fed’s Brainard: Crypto finance needs to be regulated

(Reuters) – Recent losses in the cryptocurrency market show the need for cryptocurrencies to be regulated the same way traditional finance is, Fed Vice Chair Lael Brainard said on Monday.

“It’s really concerning to see that retail investors are really getting hurt by these losses,” Brainard said in an interview with Bloomberg in Washington.

Cryptofinance “needs to be under the regulatory perimeter,” she said.