Blog: There’s No Future for DeFi Without Regulation – CoinDesk

While the impact of financial crises may not have changed dramatically before and after the creation of the Federal Reserve, the frequency did. In the 19th century, the U.S. had banking crises and panics in 1819, 1837, 1857, 1873, 1884, 1893 and 1896 – and nearly every one of those led to a recession. In the 20th century, however, we had just one major crisis, the Great Depression. So far in the 21st century, we’ve also had one major crisis, the Global Financial Crisis, though its impact was far smaller than the Great Depression, thanks to the vision and insights of then-Fed Chair Ben Bernanke.

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