A new report published by the Bank for International Settlements (BIS) reports that cryptocurrencies increase financial risks in emerging economies and are not really attractive.
According to the document, compiled by the Advisory Group of Directors on Financial Stability, which includes representatives from Brazil, Canada and the US, it emphasizes that cryptocurrencies will not be able to solve the problems arising in the financial systems of developing countries.
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“Cryptoassets have an illusory appeal because they are a simple and quick solution to financial problems in emerging economies