PANews reported on May 12 that the Bank for International Settlements (BIS) recently released a paper titled "Empirical Analysis of Cross-Border Bitcoin, Ethereum and Stablecoin Flows", which deeply studied the driving factors behind cross-border cryptocurrency flows in 184 countries from 2017 to mid-2024. The study found that geographical distance and language barriers have a much smaller impact on cryptocurrency transactions than on traditional financial flows. Global factors such as increased market volatility and widening credit spreads have become important factors in determining native crypto assets. Stablecoins are more closely associated with remittance costs and transaction demand, especially in emerging markets and developing economies where traditional financial channels are costly. In addition, capital flow management measures appear to be largely ineffective in curbing these digital transactions, and there is evidence that the trading volume of some crypto assets has even increased due to the introduction of these measures. The findings highlight the dual role of crypto assets as speculative investments and trading tools, emphasizing the need for further research to assess their impact on financial inclusion and economic stability.