Cryptocurrencies: Looking beyond the hype

The Annual Economic Report of the Bank of International Settlements [BIS] is titled “Cryptocurrencies: Looking beyond the hype”. The report is an analysis of the problems that cryptocurrencies promise to solve but actually fall short on. It states that cryptocurrencies simply can not be used as a national or global currency in its current version.

“The report concludes with some suggestions. First, the redrawing of regulatory boundaries to specifically address the rise of cryptocurrencies and cryptoassets. Second, the interoperability of cryptocurrencies with regulated financial entities and lastly the regulation of institutions that offer services specific to cryptocurrencies.”

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