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A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
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Don't mind the formulation, the underlying idea is towards the mass adoption of cryptocurrencies which is why BTC markets welcomed the news with bullish sentiment. The financial system is working towards ways to incorporate cryptos into the system, this is just one sub-chapter but an important one nonetheless because bank custody is a big part of the financial system. Read this news in conjunction of the legal analysis I posted the other day about the implications of El Salvador's move to make BTC legal tender - it opens up a lot of legal issues such as whether BTC can be considered a 'foreign currency'. This is party why the BIS needs to address these issues asap.
Don't mind the formulation, the underlying idea is towards the mass adoption of cryptocurrencies which is why BTC markets welcomed the news with bullish sentiment. The financial system is working towards ways to incorporate cryptos into the system, this is just one sub-chapter but an important one nonetheless because bank custody is a big part of the financial system. Read this news in conjunction of the legal analysis I posted the other day about the implications of El Salvador's move to make BTC legal tender - it opens up a lot of legal issues such as whether BTC can be considered a 'foreign currency'. This is party why the BIS needs to address these issues asap.
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