๐๐ Hey cryptocurrency lovers! BIS (Bank for International Settlements) has unveiled a Bitcoin tracking prototype called Atlas to provide regulatory authorities with insight into cryptocurrency usage! ๐ง๐
๐ Atlas offers a preliminary look at cryptocurrency activities by extracting data from both public โon-chainโ ledgers and โoff-chainโ data selectively sourced from exchanges and users. ๐๐ธ
๐ฆ Central banks can now use this information to address concerns about the inherent risks and potential benefits of cryptocurrencies. ๐๐ค
๐ฎ BIS states that Atlas provides important data on the conversion of Bitcoin into US dollars at certain times and in certain locations around the world, along with fluctuations in the popularity of the cryptocurrency market. ๐๐ฑ
๐๏ธ It is important for central banks to understand cross-border cryptocurrency flows, especially in the context of international payments, economic analysis and balance of payments statistics. ๐๐ผ
๐ค BIS emphasizes the need to gain first-hand knowledge about cryptocurrencies and DeFi and acknowledges both the risks and opportunities these technologies present for the financial system. ๐๐
๐ฃ๏ธ What do you think? Is Atlas a step towards regulation or a privacy violation in the cryptocurrency world? We are waiting your comments! ๐ฌ๐
๐ Atlas offers a preliminary look at cryptocurrency activities by extracting data from both public โon-chainโ ledgers and โoff-chainโ data selectively sourced from exchanges and users. ๐๐ธ
๐ฆ Central banks can now use this information to address concerns about the inherent risks and potential benefits of cryptocurrencies. ๐๐ค
๐ฎ BIS states that Atlas provides important data on the conversion of Bitcoin into US dollars at certain times and in certain locations around the world, along with fluctuations in the popularity of the cryptocurrency market. ๐๐ฑ
๐๏ธ It is important for central banks to understand cross-border cryptocurrency flows, especially in the context of international payments, economic analysis and balance of payments statistics. ๐๐ผ
๐ค BIS emphasizes the need to gain first-hand knowledge about cryptocurrencies and DeFi and acknowledges both the risks and opportunities these technologies present for the financial system. ๐๐
๐ฃ๏ธ What do you think? Is Atlas a step towards regulation or a privacy violation in the cryptocurrency world? We are waiting your comments! ๐ฌ๐