BIS: institutional adoption of crypto means crackdown on exchanges

Today the Bank for International Settlements (BIS) published a paper on the institutional adoption of cryptocurrencies. Based on somewhat stale data at the end of 2020, it found adoption by banks to be negligible, with an exposure of just $180 million. However, it recognizes the situation is changing fast. At the same time, relatively unregulated crypto exchanges have grown rapidly and represent potential counterparty risks.
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