Crypto Assets do not Pose Risk for Global Financial System Now, Says G20 Watchdog
Cryptovest
Published Oct 11, 2018 02:06PM ET
Updated Oct 11, 2018 03:21PM ET
Crypto Assets do not Pose Risk for Global Financial System Now, Says G20 Watchdog
Financial Stability Board (FSB), the international consultancy body set up by G20, previous position.
The consulting body analyzed several key issues in the report: market risks from volatility, low liquidity, the use of leverage, and significant operational risks. The overall assessment is that virtual coins lack common characteristics of sovereign money because people do not use them as a store of value, means of payment, or general unit of account. However, the crypto market is in the process of quick change with the rapid growth of exchanges, the involvement of more retail investors, and the introduction of new instruments such as virtual coin funds and exchange-traded ...
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