BIS paper sounds alarm on gaps in crypto intermediary regulation
International co-operation a challenge as expanded activities risk contagion, authors say
A new paper from the Bank for International Settlements has warned of the financial stability risks posed by crypto firms, whose activities, it says, mirror those of intermediaries in traditional finance but without the safeguards.
The paper, published on April 23 by the BIS’s Financial Stability Institute, says crypto asset service providers have “expanded well beyond their initial roles as trading platforms and custodial service providers”. The authors – Denise Garcia Ocampo, Peter Goodrich
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