A BIS report warns that the rapid growth of crypto exchanges and lack of standardized rules are putting users at risk.
Cryptocurrency exchanges are increasingly offering bank-like services, such as loans and yield products, but without the protection that traditional financial institutions offer, according to a report released Thursday by the Bank for International Settlements (BIS). “What looks like a high-yield savings product is actually an unsecured loan to a lightly regulated shadow bank,” said the […]
