Economists at the Bank of International Settlements have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. “Authorities can now consider a variety of policy approaches and at the same time work to improve the existing monetary system in the public interest,” they advised.The Bank of International Settlements published a bulletin last week titled “Addressing the risks in crypto: laying out the options.
The authors outlined “three potential lines of action.” The first is to “ban specific crypto activities.” Another option is to “isolate crypto from tradfi [traditional finance] and the real economy.” The third is to “regulate the sector in a manner akin to tradfi.” However, the report clarifies that the three options are not mutually exclusive and could be “selectively combined to mitigate the risks emanating from crypto activities.
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These 3 recommendations from BIS could provide the push needed for regulators to embrace crypto! DeFi is a game-changer & is making it easier for people to participate in the global markets. Let's hope these rules help make crypto mainstream.
It looks like the regulators are catching up to the pace of crypto. Exciting to see what kind of progressive policies they adopt! hodl on to the future 💰
This is fantastic news! DeFi is allowing people to use blockchain and cryptos to access financial services around the world. I'm excited to see how BIS' recommendations open up opportunities for everyone in the crypto space. DeFi blockchain
The future is near! Excited to see which crypto policies become standard. hodl moon 🚀
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