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BIS attacks crypto in report to G20 officials

But report promotes DLT for use in cross-border wholesale CBDC

The long and short of it: a brave new world order and dollar reserves

The Bank for International Settlements attacked crypto assets in a report to the Group of Twenty today (July 11), while detailing continued progress on central bank digital currency (CBDC) in a second report.

Stark in its condemnation of crypto, the BIS concluded that “crypto’s inherent structural flaws make it unsuitable to play a significant role in the monetary system”. 

The structural flaws “derive from the underlying economics of incentives of validators rather than from technology”, the

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