From Cointelegraph
April 19, 2025 07:43:00 AM:

The Bank for International Settlements (BIS) warns that the growing adoption of cryptocurrencies and DeFi could threaten financial stability and worsen wealth inequality. Stablecoin regulation is urged to ensure stability and reserve asset requirements. The US House Financial Services Committee passed the STABLE Act, aiming for a clear regulatory framework for stablecoins.

The GENIUS Act passed the Senate Banking Committee, focusing on collateralization guidelines and AML compliance for stablecoin issuers. The BIS expresses concerns that crypto markets could deepen income inequality, with larger investors taking advantage of less sophisticated retail traders. The report highlights the redistribution of wealth from poorer to wealthier individuals within the crypto market.

Read more at Cointelegraph: Crypto, DeFi may widen wealth gap, destabilize finance: BIS report