The Bank for International Settlements (BIS) has released a bulletin suggesting three possible approaches to address the risks associated with cryptocurrencies to avoid collapses like what we witnessed in 2022.
The BIS, a global banking coordination body, has released a paper entitled Addressing the risks in crypto: laying out the options, in which it suggests three approaches to cryptocurrency regulation. The BIS maintains that after the chaos that ensued following the collapse of FTX, regulators can no longer afford to ignore crypto.
The recent crypto market turmoil highlights the urgency of tackling the risks. There are different lines of policy action, including issuing central bank digital currencies to encourage sound innovation. #BISBulletin #Crypto #CBDC #Regulation https://t.co/DnI4GXi35X pic.twitter.com/qVDPSWBBwC
— Bank for International Settlements (@BIS_org) January 12, 2023
Leaving the Crypto Sector Unregulated is no Longer Viable
In its piece, the BIS indicated that t

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