Bank for International Settlements Publishes Report Challenging Bitcoin’s Role in Cross-Border Transactions

The Bank for International Settlements (BIS) has released a report examining the implications of Bitcoin, Ethereum, and stablecoins on cross-border transactions. The BIS highlights a skeptical view of Bitcoin, finding that capital flow measures have little impact on cryptocurrency transactions despite potential facilitation by these measures. The report emphasizes that stablecoins are particularly favored in emerging markets due to high transaction costs and the desire for fast money transfers. This research suggests a need to reevaluate the impact of cryptocurrencies on financial inclusion and overall economic stability.