BIS Warns Crypto Exchanges Are Acting Like Shadow Banks
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The BIS said cryptoasset service providers have expanded far beyond trading and custody into products.
The paper said many large firms now operate as “multifunction crypto-asset intermediaries.”
The BIS warned that these firms can take on credit, liquidity, and maturity risk without prudential safeguards.
The Bank for International Settlements said the rapid evolution of cryptoasset service providers into financial intermediaries highlights the need for robust prudential frameworks. In
The paper said many large firms now operate as “multifunction crypto-asset intermediaries.”
The BIS warned that these firms can take on credit, liquidity, and maturity risk without prudential safeguards.
The Bank for International Settlements said the rapid evolution of cryptoasset service providers into financial intermediaries highlights the need for robust prudential frameworks. In
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