BIS ChiefWarns Against a “Systemic Threat” Of Bitcoin

BIS ChiefWarns Against a "Systemic Threat" Of Cryptocurrencies,

BIS ChiefWorries about a "Systemic Threat" Of Cryptocurrencies, Prompts "Pre-emptive Action" From Government bodies "If authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat… " The Chief of the Bank for International Settlements (BIS) has attacked bitcoin as a "combination of a bubble, a Ponzi scheme and an environmental disaster."   Augustin Carstens questioned Tuesday the sustainability of bitcoin and other cryptocurrencies and advised regulators had a obligation to clamp down on the monetary technology



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