Technology

Crypto exchange Gemini says DeFi lending risks require new rules to protect investors

Crypto exchange Gemini says DeFi lending risks require new rules to protect investors

Regulators should reach an agreement on how to define activities in the US$247 billion industry of decentralised finance, or DeFi, as existing rules are ill-suited for safeguarding against risks stemming from such crypto-lending services, says New York-based crypto exchange Gemini.The comment followed the exchange’s launch of a lending programme in Hong Kong last month, which allows users to store and earn interest on 60 cryptocurrencies and stable coins.

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