đš **Crypto Alert: Banks Face Risks on Permissionless Blockchains! đš**
The Bank for International Settlements (BIS) has flagged multiple risks for banks transacting on permissionless blockchains. According to a new paper, these risks include money laundering, terrorism financing, and operational security issues. The Basel Committee on Banking Supervision, part of BIS, highlights that current risk management strategies are still evolving and untested under stress.
Key points:
- Privacy tech like zero-knowledge proofs is being developed to mitigate some risks.
- Political uncertainties could impact blockchain stability.
- A new disclosure framework for banks' crypto exposure is set for 2026.
What do you think about these risks and solutions? Share your thoughts in the comments! đŹ
