Despite some proponents advocating for digital assets as a solution to issues like costly transaction fees and rampant inflation in developing economies, the BIS report suggests otherwise.
The report states that “crypto assets hold out the illusory appeal of being a simple and quick solution for financial challenges in emerging market economies and that they have been promoted as low-cost payment solutions, alternatives for accessing the financial system, and as substitutes for national currencies in countries with high inflation or high exchange rate volatility.”
