BIS Report ‘Dangerous’ and Misinformed

Referring to the April 15 BIS paper on crypto and DeFi, Perkins claimed the report reflects fear, arrogance, or ignorance — and poses a threat to global financial stability.

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“Crypto is not communism. It’s the new internet. You cannot control it any more than you can control the web.”

Real-Time Crypto vs 9-to-5 Banking

Perkins warns that BIS’ “containment” approach could backfire, leading to systemic liquidity risks as crypto operates 24/7 while traditional markets shut down after hours.

“These recommendations will create the very risk they seek to prevent.”

Anonymity Isn’t Unique to Crypto

Responding to BIS’ concerns about anonymous DeFi developers, Perkins points out the double standard:

“When was the last time a TradFi firm published its developer list?”

He also rebuts BIS’ alarm over stablecoins and their role in developing economies:

“If USD stablecoins help people in Venezuela or Zimbabwe, isn’t that a net positive?”

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The post Crypto is Not Communism: CoinFund Slams BIS Report appeared first on Coin Engineer.