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Silicon Valley — not Wall Street — is the next frontier for financial regulation, Fed president Bullard tells us





FILE PHOTO: St. Louis Federal Reserve President James Bullard speaks at a public lecture on

WASHINGTON, DC – Banks are so 2008.

A surge in new methods and avenues to circumvent conventional bank finance, from cryptocurrencies and blockchain to crowdfunding, presents the next major challenge for regulators in Washington, St. Louis Fed President told Business Insider in an interview.

As President Donald Trump vows to roll back financial regulations aimed at preventing another financial crisis, in particular post-crisis legislation known as Dodd-Frank, Bullard said these rules had made big banks safer by forcing them to fund their operations with more equity capital relative to their debt.

But he argued the debate over Wall Street rules amounts read more >>>

Source:: BusinessInsider.Com

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