A report from the International Monetary Fund (IMF) in September 2022, co-authored by BIS Chief Carstens, identifies three shortcomings that preclude cryptocurrencies from serving as a "sound basis for the monetary system," which shows how fiat money has won the battle against cryptocurrencies.
The fight between cryptocurrencies and fiat currencies, according to Bank for International Settlements (BIS) president Agustin Carstens, is over, with the latter winning. Fiat currency is money t...
