The Bank for International Settlements’ (BIS) push to isolate crypto markets and its controversial recommendations on DeFi and stablecoins is “dangerous” for the entire financial system, warns the head of a blockchain investment firm.
“Many of their recommendations and conclusions – perhaps due to a mix of fear, arrogance or ignorance–are completely uninformed and frankly, dangerous,” CoinFund president Christopher Perkins said in an April 19 X post, referring to the BIS April 15 report titled “Cryptocurrencies and decentralized finance: functions and financial stability implication.” 
BIS recommendations exposes TradFi to risks of “unimaginable scale”
“Crypto is not communism,” Perkins said, pushing back against the BIS’s call for a “containment” approach to isolate crypto from traditional finance and the broader economy.
“It’s the new internet that provides anyone with a connection access to financial services,” Perkins said. “You cannot con

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