Bank for International Settlements: Speculative activities account for a significant proportion in cross-border cryptocurrency transactions

Odaily Planet Daily News: According to the latest report released by the Bank for International Settlements (BIS), the vast majority of the approximately $600 billion in cross-border cryptocurrency transactions are driven by speculative activities rather than actual payment purposes. The report points out that these transactions mainly focus on the exchange between stablecoins and other cryptocurrencies, reflecting the sensitivity of market participants to price fluctuations. BIS warns that despite the potential of encrypted assets in cross-border payments, the current usage patterns show a high degree of speculation and may pose financial stability risks. （Cointelegraph）