Crypto is not communism: Exec slams BIS' take on crypto

The CEO of a blockchain investment firm criticized the Bank for International Settlements' (BIS) recommendations on crypto, DeFi, and stablecoins, calling them 'dangerous' and 'uninformed.' The CEO, Christopher Perkins, argued against the BIS's call to isolate crypto from traditional finance, stating that it's like trying to control the internet. Perkins warned that such an approach would expose the traditional financial system to massive risks. He also pushed back against the BIS's concerns about DeFi and stablecoins, highlighting the benefits they offer over the traditional financial system. Another industry expert, Christian Catalini, also criticized the report, comparing it to writing parking regulations for self-driving drones, suggesting it is behind the times.