The Bank for International Settlements (BIS) has slammed Bitcoin in its Annual Economic Report, suggesting that the cryptocurrency has very few things going for it.
In a chapter from the report released ahead of its full publication on June 29, the BIS argued that cryptocurrencies are “speculative assets rather than money,” singling them out for their role in facilitating “money laundering, ransomware attacks, and other financial crimes.”
In addition, the BIS singled out Bitcoin for its high energy consumption—which previous reports have found to be higher than the annual energy consumption of some countries. “Bitcoin, in particular, has few redeeming public interest attributes when also considering its wasteful energy footprint,” the report said.
As well as dismissing traditional cryptocurrencies like Bitcoin, the report took aim at stablecoins—crypto assets such as Tether, which claim to be backed by fiat currencies.
Stablecoins “attempt to import credibility by be
Źródło: https://decrypt.co/74403/bitcoin-has-few-redeeming-public-interest-attributes-bis
