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The Bank for International Settlements (BIS) has published a new report on Bitcoin and Cryptocurrencies!
Bitcoin (BTC) and cryptocurrencies have received a new report from the Bank for International Settlements (BIS), which approaches cryptocurrencies with skepticism.
At this point, BIS recently published a paper titled "Empirical Analysis of Cross-Border Bitcoin, Ethereum, and Stablecoin Flows."
The BIS, which examines cross-border cryptocurrency flows in 184 countries from 2017 to mid-2024 and the driving factors behind these flows, stated that capital flow measures have very little effect on cryptocurrency transactions.
BIS stated that there are almost no restrictions on capital flow management measures regarding crypto transactions; on the contrary, they may even facilitate the growth of crypto trading volume.
BIS, which analyzes the catalysts of cross-border crypto flows in 184 countries, concluded that cryptocurrencies like Bitcoin play a dual role as both speculative investment assets and trading tools.
BIS recently stated that stablecoins are preferred more, especially with the high costs of money transfers and the demand for fast transactions, as they are more prominent in developing markets and economies where traditional financial channels are costly.
The BIS emphasized that it has been concluded that the impact of cryptocurrencies on financial inclusion and economic stability needs to be re-evaluated.