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The president of CoinFund says that the Bank for International Settlements \u201cmix of fear, arrogance, or ignorance\u201d poses a threat to the entire financial industry.<\/p>\n
The Bank for International Settlements\u2019 (BIS) push to isolate crypto markets and its controversial recommendations on DeFi and stablecoins is \u201cdangerous\u201d for the entire financial system, warns the head of a blockchain investment firm.<\/p>\n
\u201cMany of their recommendations and conclusions \u2014 perhaps due to a mix of fear, arrogance, or ignorance \u2014 are completely uninformed and, frankly, dangerous,\u201d CoinFund president Christopher Perkins said<\/a> in an April 19 X post, referring to the BIS\u2019 April 15 report titled<\/a> \u201cCryptocurrencies and Decentralized Finance: Functions and Financial Stability Implications.\u201d\u00a0<\/p>\n \u201cCrypto is not communism,\u201d Perkins said, pushing back against the BIS\u2019 call for a \u201ccontainment\u201d app<\/a>roach to isolate crypto from traditional finance and the broader economy.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n