BIS: Regulating the cryptocurrency industry is preferable to implementing a comprehensive ban

ChainCatcher news, according to CoinDesk, based on a research report released by the Bank for International Settlements (BIS), so far, crypto assets have not reduced but rather amplified the financial risks of underdeveloped economies. The technology can still be applied in various constructive ways, and regulation needs to "guide innovation in these socially beneficial directions."

The research indicates that, given the difficulty of enforcement and the risk of stifling innovation, regulating the crypto industry is more desirable than implementing a comprehensive ban.