G20 Watchdog Unveils Framework to Monitor Crypto

A framework has been developed for the G20 countries to “monitor the financial stability implications of crypto-assets markets.” The Financial Stability Board says cryptocurrencies “do not pose a material risk to global financial stability” but supports their “vigilant monitoring.” Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space G20’s Crypto Monitoring Framework The Financial Stability … Read more

Cryptocurrencies Not a Risk to Stability, Russian Study Concludes

A study has found that despite their volatility, cryptocurrencies do not endanger the financial system and the economy of Russia, as the risks are offset by the highly concentrated ownership of digital assets. Crypto fluctuations are not believed to affect consumption either. Russian residents have controlled cryptocurrency worth between $7.5 and $14 billion in the … Read more

Bank of Japan Turns Back on State-Issued Cryptocurrency

The Bank of Japan has become the latest government financial institution to recognize the risks of state-issued cryptocurrencies. According to its Deputy Governor Masayoshi Amamiya, a national digital coin may jeopardize the traditional financial system established in developed countries. The Japanese central bank has no plans to issue its own crypto, he said. Also read: … Read more

“Private Digital Money” Better than State-Issued, Swiss Central Banker Says

Private digital currencies are better than any state-issued version, admitted a high-ranking representative of the Swiss National Bank. Cryptocurrencies are also less risky, according to Andrea Maechler, member of the central bank’s governing board. Her comments indicate that Switzerland has no intentions to emit a state-sponsored crypto.   Also read: Centralized Cryptoruble Not Possible, Minister … Read more

G20 Watchdog Says Cryptos Not a Risk, Resists Calls for New Rules

The Financial Stability Board, G20’s global watchdog, does not consider cryptocurrencies a risk to financial stability. In a letter to the Group of 20 central bankers and finance ministers, its Chair Mark Carney said FSB was pivoting away from designing new policies and focusing on reviewing existing rules. His comments suggest there is no G20 … Read more

South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading

The South Korean government has called for financial regulators and central bankers of 23 other countries as well as 12 organizations, including the International Monetary Fund and the European Union, to collaborate on curbing cryptocurrency trading. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Other Regulators Urged to Take Action … Read more