Federal Reserve Governor Christopher J. Waller downplayed risks from bitcoin and broader crypto markets on Monday, arguing that digital assets remain largely disconnected from the traditional financial system even as the technology behind them moves into the mainstream.

Speaking at an event hosted by the Global Interdependence Center, Waller framed crypto markets as an extension and competition of everyday commerce rather than an entirely new phenomenon. 

His comments come as crypto markets continue to grapple with regulatory uncertainty in Washington and recurring bouts of volatility that have shaped investor sentiment for years. While bitcoin has become more embedded in…

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