According to a report by the Bank of International Settlements, vulnerabilities in the crypto market could pose financial stability risks in emerging economies. The report expressed concerns about the ability of these economies to monitor and assess the risks associated with cryptoassets, including liquidity, credit, operational, bank disintermediation, and capital flow risks. The report also noted that price volatility could lead to losses for holders of cryptoassets. The BIS recommended that local regulators consider selective bans, containment, and regulation of specific crypto-assets and establish clear regulatory mandates that differentiate between activity-based and entity-based regulation.