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  "path": "/crypto-exchanges-are-morphing-into-shadow-banks-bis-warns/",
  "publishedAt": "2026-04-23T14:46:42.000Z",
  "site": "https://crypto.news",
  "tags": [
    "News",
    "Cryptocurrency",
    "DeFi",
    "Exchange"
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  "textContent": "The BIS says big crypto exchanges now function as lightly regulated “shadow banks,” turning user deposits into unsecured loans and amplifying leverage that helped trigger a $19B 2025 wipeout. Cryptocurrency exchanges are rapidly evolving into “shadow banks” that offer lending…",
  "title": "Crypto exchanges are morphing into ‘shadow banks,’ BIS warns"
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