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BIS general manager Warns Against a “Systemic Threat” Of Cryptocurrencies

BIS general managerWarns Against a “Systemic Threat” Of Bitcoin,

BIS general managerFears from a “Systemic Threat” Of Cryptocurrencies, Urges “Pre-emptive regulation” From Federal government “If authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat… ” The general manager of the Bank for International Settlements (BIS) has attacked bitcoin as a “combination of a bubble, a Ponzi scheme and an environmental disaster.”   Augustin Carstens inquired Tuesday the sustainability of bitcoin and other cryptocurrencies and advocated authorities had a duty to shut down on the monetary system

 

 

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