Bank for International Settlements (BIS) Report Says DeFi Has Failed to Fulfill Its Promise



The Bank for International Settlements (BIS) has released a report criticizing decentralized finance (DeFi) for failing to fulfill its promise as an alternative to traditional finance. The report suggests that DeFi has not harnessed innovation for the benefit of society and has only amplified financial risks. The BIS advises authorities to impose more regulatory guardrails on the crypto sector.
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