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BIS: Cryptocurrencies Are Often Used in Financial Crimes, Money Laundering, Ransomware Attacks

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

The Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes Cryptocurrencies, Bitcoin The Bank of International Settlements published its annual economic report Wednesday, discussing cryptocurrencies, particularly bitcoin, as well as central bank digital currencies (CBDCs). The BIS explained that “Several recent developments have placed a number of potential innovations involving digital currencies high on agenda” of central banks. “The first…

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