UNCTAD proposes to ban banks from using cryptocurrencies
The United Nations Development Authority (UNCTAD) believes that the risks and costs that cryptocurrencies incur outweigh the benefits of using them, and therefore are not suitable for banks. UNCTAD called on world governments to impose additional taxes on cryptocurrency transactions and restrictions on advertising of digital assets to increase state revenues and ensure financial stability in developing countries. A report published by UNCTAD notes that the growing use of cryptocurrencies for domestic payments and the…
