UN trade body urges actions to curb cryptocurrencies in developing countries

Global use of cryptocurrencies has increased exponentially. [iStockphoto]

The UN Conference on Trade and Development (UNCTAD) called for actions to curb cryptocurrencies in developing countries in three policy briefs published on Wednesday.

While private digital currencies have rewarded some, and facilitate remittances, they are an unstable financial asset that can also bring social risks and costs, the UN trade and development body warned.