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Crypto’s ‘structural flaws’ make it an unsuitable monetary system, says BIS report

‘These flaws would persist even if regulation and oversight were to address the financial instability problems and risk of loss implicit in crypto’

‘Cryptocurrencies do not perform money’s fundamental functions,’ the BIS said
‘Cryptocurrencies do not perform money’s fundamental functions,’ the BIS said Photo: Angel Garcia/Getty Images

Crypto and the wider decentralised finance ecosystem have “deeper structural limitations” that prevent it from becoming a sound monetary system.

That's according to the Bank for International Settlements, which also said that there is a deep divide between DeFi’s goals and reality.

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