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

BIS general manager worries about a “Systemic Threat” Of Bitcoin,

BIS general manager worries about a “Systemic Threat” Of Bitcoin, Prompts “Pre-emptive regulation” From Law enforcement “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 pummeled bitcoin as a “combination of a bubble, a Ponzi scheme, and an environmental disaster.” Augustin Carstens asked Tuesday the sustainability of bitcoin and other cryptocurrencies and suggested federal government had a responsibility to shut down on the monetary technology

 

 

 

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