Crypto Exec Blasts BIS: ‘Fear, Arrogance, Or Ignorance—Their Views Are Dangerous’

A major clash has erupted between cryptocurrency industry leaders and banking regulators over how to handle the growing crypto market.

CoinFund president Christopher Perkins has called the Bank for International Settlements’ (BIS) recent recommendations on cryptocurrency regulation “dangerous” for the entire financial system.

Banking Regulators Push For ‘Containment’ Of Crypto Markets

The BIS published a report on April 15 titled “Cryptocurrencies and Decentralized Finance: Functions and Financial Stability Implications,” which urged a strategy to isolate digital currency from traditional finance.

Perkins fired back on April 19 through a post on X (formerly Twitter), suggesting the BIS recommendations stem from “a mix of fear, arrogance, or ignorance” and are “completely uninformed.”

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

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