Bank for International Settlements: Speculation accounts for a large proportion of cross-border cryptocurrency transactions

Odaily News According to the latest report released by the Bank for International Settlements (BIS), most of the approximately $600 billion in cross-border cryptocurrency transactions are driven by speculation rather than actual payment purposes. The report pointed out that these transactions are mainly concentrated in the exchange between stablecoins and other crypto assets, reflecting the sensitivity of market participants to price fluctuations. BIS warned that although crypto assets have potential in cross-border payments, current usage patterns show a high degree of speculation and may pose financial stability risks. (Cointelegraph)