“I think the role of the distributors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking up the system,” she said.
As cryptocurrencies change business models of commercial banks, the digital currencies need to be closely monitored to maintain stability. With the changes in digital currency, the financial industry must welcome regulation, the director said.
Startups and technology companies are eyeing the cryptocurrencies, which are built on blockchains. Facebook is reportedly developing its own digital coin, and JPMorgan is testing its own digital token, called JPM Coin.
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