According to @nic__carter, the Bank for International Settlements (BIS) has published a new research paper by Raphael and colleagues, providing in-depth analysis on regulatory frameworks and risk management strategies for cryptocurrency markets (source: BIS paper via @nic__carter, May 9, 2025). The paper highlights the importance of robust oversight and transparency for crypto exchanges and stablecoins, which could signal tighter regulations and affect trading volumes and volatility in the digital asset sector. Traders should monitor updates from the BIS, as these policy recommendations may influence market liquidity and institutional adoption.