Christopher Perkins, president of CoinFund, criticizes the Bank for International Settlements’ (BIS) report, calling it outdated and potentially harmful to global market stability. He asserts that the BIS misunderstands cryptocurrencies and DeFi by viewing them as threats rather than valuable innovations. Perkins warns that attempts to ‘contain’ digital finance could backfire, exposing traditional systems to unforeseen liquidity mismatches. He argues that trying to box in these two ecosystems will increase risk instead of reducing it. Perkins also challenges the BIS’s focus on transparency and developer accountability in DeFi. He highlights the irony of demanding such information from crypto developers while private institutions often operate with less scrutiny, leading to questions about true regulatory oversight.