Bank of International Settlements: Regulation of the crypto industry is preferable to a blanket ban

08/22 15:30

According to a research report released by the Bank for International Settlements (BIS), so far, cryptocurrencies have not reduced but rather amplified the financial risks of underdeveloped economies. This technology can still be applied in various constructive ways, and regulation needs to guide innovation towards directions that are useful to society. The study suggests that regulating the cryptocurrency industry is more desirable than implementing a comprehensive ban, considering the difficulty of law enforcement and the risk of stifling innovation. 

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