Bank for International Settlements report warns banking services from crypto firms carry risk

Bank for International Settlements report warns banking services from crypto firms carry risk

Cryptoasset service providers (CASPs) have expanded well beyond their initial roles as trading platforms and custodial service providers. The largest firms now offer a broad range of products, including yield/earn programmes, margin and secured lending, derivatives and token issuance. Some of these products closely resemble financial intermediation activities traditionally performed by banks and prime brokers. […]

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