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Bank of England Unconviced DeFi Can Solve Financial Risk

Decentralized finance protocols do not yet provide an effective way to manage risk, the Bank of England deputy governor warned on Monday. 

The claim by DeFi advocates that a code can manage risk, rather than intermediaries, is unproven, Jon Cunliffe told an audience at the Warwick Business School. ''From the standpoint of a financial stability authority and a financial regulator, I have yet to be convinced that the risks inherent in finance can be effectively managed in this way,'' he said.

(By Benjamin Robertson)

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