Crypto May Exacerbate Financial Crises In Emerging Economies: BIS Warns Of 'Illusory Appeal'
Portfolio Pulse from Murtuza Merchant
A study by the Bank for International Settlements (BIS) warns that cryptocurrencies like Bitcoin and Ether could heighten financial risks in emerging economies. The report suggests that crypto assets have not reduced, but amplified the financial risks in less developed economies. It advises caution, stating that authorities have a range of policy options to address risks in crypto assets, from outright bans to containment to regulation.
August 23, 2023 | 2:21 pm
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NEGATIVE IMPACT
The BIS report suggests that Bitcoin could heighten financial risks in emerging economies, which could impact its global adoption and price.
The report suggests that Bitcoin and other cryptocurrencies could exacerbate financial risks in emerging economies. This could potentially impact the global adoption of Bitcoin and its price, especially if regulatory measures are taken as a result.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The BIS report suggests that Ether could heighten financial risks in emerging economies, which could impact its global adoption and price.
The report suggests that Ether and other cryptocurrencies could exacerbate financial risks in emerging economies. This could potentially impact the global adoption of Ether and its price, especially if regulatory measures are taken as a result.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80