A new report on cryptocurrencies has come from the Bank for International Settlements (BIS), which is skeptical of Bitcoin (BTC) and cryptocurrencies. On this point, the BIS recently published a paper titled “Empirical Analysis of Cross-Border Bitcoin, Ethereum and Stablecoin Flows.” Examining cross-border cryptocurrency flows and the driving factors behind the flows in 184 countries from 2017 to mid-2024, the BIS noted that capital flow measures had little impact on cryptocurrency transactions. The BIS noted that capital flow management measures have almost no restrictions on crypto transactions, and on the contrary, they may even facilitate the growth of crypto trading volume. Analyzing the catalysts of cross-border crypto flows in 184 countries, the BIS concluded that cryptocurrencies such as Bitcoin play a dual role as both speculative investment assets and trading vehicles. Finally, BIS stated that stablecoins are more prominent in emerging markets and economies where traditional financial channels are costly, and that they are preferred more, especially due to money transfer costs and demand for fast transactions. The BIS underlined that the research concluded that the impact of cryptocurrencies on financial inclusion and economic stability should be re-evaluated. *This is not investment advice.