CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Moralis Money
crypto.news 2025-04-20 15:40:00

CoinFund president criticizes BIS crypto containment strategy as “dangerous”

Christopher Perkins, president of CoinFund, has issued a disapproval of the Bank for International Settlements’ (BIS) recent paper on crypto. Perkins called its recommendations “completely uninformed and frankly, dangerous.” The BIS report , titled “Cryptocurrencies and decentralized finance: functions and financial stability implications,” acknowledges cryptocurrency’s growing importance with the rise of ETFs, stablecoins, and tokenized assets. However, Perkins strongly objects to the paper’s containment approach to cryptocurrency regulation. “Guys, crypto is not communism. It’s the new internet that provides anyone with access to financial services,” Perkins stated. He rejected the comparison to Cold War containment strategies. “You cannot control it anymore than you control the internet.” The @BIS_org just published a new paper, “Cryptocurrencies and decentralised finance: functions and financial stability implication.” The good news is that the authors finally realize that advancements in crypto (including the growth of ETFs, stablecoins and tokenized real world… — Christopher Perkins 🦅🌎⚓️NYC (@perkinscr97) April 19, 2025 Perkins warns of liquidity risks if crypto is separated Perkins had witnessed the 2008 financial crisis firsthand as a trader at Lehman Brothers during its collapse. With that experience, he warns that artificially separating traditional finance from cryptocurrency markets could create liquidity risks. Perkins argues that forcing a division between the 24/7 settlement capability of crypto markets and the time-restricted traditional system would “lead to the next systemic crisis.” Instead of containment, Perkins advocates for modernizing traditional financial systems to integrate with blockchain technology. “Capital rules should not ‘contain’ public blockchains—they should encourage them!” he argued. He suggested that regulation should focus on updating legacy systems rather than isolating new technology. You might also like: XRP price defies good news streak: Can it still hit $5? The CoinFund president also challenged several other conclusions in the BIS report. He particularly focused on its concerns about information asymmetries in decentralized finance (DeFi). Perkins questioned the BIS’s criticism regarding anonymous developers in DeFi projects. He also noted that traditional financial institutions typically do not publish lists of their developers. Perkins also took issue with the BIS’s worry that stablecoins would cause macroeconomic instability in nations like Zimbabwe and Venezuela. “If there is demand for USD stablecoins and it helps improve the condition of anyone in the developing world, perhaps that is a good thing?!” he wrote. He also added that people worldwide deserve access to basic financial services regardless of their country’s monetary stability. You might also like: Crypto VC funding: Auradine secures $153m, World Liberty Fi inks deal with DWF Labs

https://www.digistore24.com/redir/325658/ceobig/
Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez