CoinFund Boss Slams BIS Crypto Strategy: “Dangerous Nonsense!”

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Ah, Christopher Perkins. The brave president of CoinFund, that fearless soul who speaks truths no one else dares to utter. He’s made it his mission to publicly roast the Bank for International Settlements (BIS) for their recent “clever” paper on crypto. Spoiler alert: He’s not impressed.

Perkins didn’t mince words when he called the BIS report “completely uninformed and frankly, dangerous.” Apparently, their paper titled “Cryptocurrencies and decentralized finance: functions and financial stability implications” does a spectacular job of missing the point. While the BIS finally admitted that crypto is important (oh, how kind of them), Perkins is having none of it. The paper’s containment approach to crypto regulation? Well, that’s where Perkins draws the line. He’s not having it.

“Guys, crypto is not communism. It’s the new internet that provides anyone with access to financial services,” Perkins boldly proclaimed. “You cannot control it anymore than you can control the internet.” And let’s be honest, if there’s anyone who should know about freedom on the internet, it’s Perkins. Who doesn’t love an open financial system?

The @BIS_org just published a new paper, “Cryptocurrencies and decentralised finance: functions and financial stability implications.” The good news is that the authors finally realize that advancements in crypto (including the growth of ETFs, stablecoins, and tokenized real world…

— Christopher Perkins 🦅🌎⚓️NYC (@perkinscr97) April 19, 2025

Perkins Sounds the Alarm: Crypto Divide = Financial Crisis?

But wait, there’s more! Perkins, a man who’s been to hell and back (a.k.a. the 2008 financial crisis), has serious concerns about the BIS’s approach. You see, he doesn’t think separating traditional finance from crypto is a smart move. According to Perkins, if you try to box crypto into the “traditional finance” cage, you’ll just end up creating liquidity risks and, in the end, spark “the next systemic crisis.” Nothing too dramatic there, right?

He’s not just here to complain, though. Perkins offers up some real wisdom: Modernize the old-school financial systems to embrace blockchain. “Capital rules should not ‘contain’ public blockchains—they should encourage them!” Perkins declared. Maybe it’s time for the old guard to adapt, eh? Rather than clinging to their outdated methods, why not just give the new tech a friendly hug?

And here comes Perkins, swinging at the BIS again. He takes issue with their concern over decentralized finance (DeFi) and the anonymous developers behind it. Seriously, Perkins says, “Since when do we expect Wall Street to release a list of their developers?” Oh, wait—never. So, why the double standards?

But the fun doesn’t stop there. The BIS is worried that stablecoins could cause trouble in places like Zimbabwe and Venezuela. Perkins, with his usual flair, scoffs at this, pointing out that if people in the developing world can use USD stablecoins to improve their financial situation, maybe, just maybe, that’s a good thing? But who am I to say, right? Perkins certainly thinks it’s worth considering, as he passionately added that everyone should have access to basic financial services, regardless of their country’s currency drama.

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2025-04-20 18:48