Bretton Woods Committee | Thu, Jan 26, 2023
The Committee invites all members to share their perspective on how the IFIs can lead the way in creating a global system for accountability and protection while promoting growth in the digital finance space, via the BWC Blog.
The BWC Blog aims to help global leaders envision how to evolve and strengthen the multilateral financial system and encourage policymakers to strengthen international economic cooperation. Calls for submissions vary dependent upon timely global events, but submissions are encouraged on any relevant topic on an ongoing basis.
Topic: Lessons Learned in the Aftermath of the FTX Collapse
Chair of BWC’s Executive Committee William Dudley is of the opinion that crypto is worth saving. According to a January 25 Bloomberg article, there is value to be had and investors to protect in the crypto space. But exactly how to save crypto gets murkier as the fallout of the FTX collapse spreads. The domino effect spurred by FTX has highlighted the co-dependent nature of the crypto industry. While many are turning to regulators to stop this from happening again in the future, questions are also being asked of the governance architecture that allowed the FTX problem to spread as quickly and deeply as it has. BWC wants to hear its members’ thoughts on whether new regulation or new governance is the way forward for crypto to protect investors and continue to promote its growth globally.
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