Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here

Crypto Assets Pose No Risks to Financial Stability, International Bankers Claim
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

[Image: 740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNv...5qcGc=.jpg]
International central banks and financial officials think that cryptocurrencies pose no significant risks to global economic stability, according to a report published by the Financial Stability Board (FSB) Wednesday, Oct.10.

The FSB — an international agency consisting of 68 local institutions such as central banks, watchdogs, and ministries of finance that prepares recommendations for global financial systems  — published a document called “Crypto-asset markets: Potential channels for future financial stability implications” with their findings.

As per the report, the bankers see no significant dangers in cryptocurrencies, as their total market capitalization was at $830 billion at its peak and has since dropped to $210 billion, which barely reaches 2 percent of the global value of gold. Still, the FSB urges regulators to watch the digital coins market closely amid its quick growth.

As well, the FSB includes a warning about possible price manipulations related to crypto, noting:

“Illiquidity, concentrated ownership, fragmented market structure, and other issues also make crypto assets potentially susceptible to price manipulation.”

In addition, the international agency stressed that the crypto industry raises some policy questions, such as consumer and investor protection.

The paper follows a previous FSB report from July that was presented to the G20 finance ministers and central bank governors. The organization had stated that cryptocurrencies would need in-depth monitoring due to the rapid development of the market, although they didn’t pose any threat at the moment.

In May, the International Monetary Fund (IMF) also stated it saw no risks from cryptocurrencies in regards to global markets financial stability. However, the IMF pointed out that they could pose some threats if they become more widespread without the relevant regulation.

by Ana berman

Possibly Related Threads...
Thread Author Replies Views Last Post
  Circle CEO: Cryptographic Tokens Will Represent Every Form of Financial Asset crytocure 0 12 15-12-2018, 07:47 AM
Last Post: crytocure
  What Will It Take To Thaw The Crypto Winter? crytocure 0 15 14-12-2018, 09:12 AM
Last Post: crytocure
  Announcements AAUC (AA UNION CAPITAL) Investment strategy - US dollar stability Milner 0 33 13-12-2018, 02:22 AM
Last Post: Milner
  Facebook Reveals ‘Ultimate Goal’ for Crypto and Blockchain Technology crytocure 0 24 11-12-2018, 01:48 AM
Last Post: crytocure
  Crypto May Fulfill Nobel Winner F.A. Hayek’s Vision for Private Money: Economist crytocure 0 22 09-12-2018, 10:30 AM
Last Post: crytocure
  High-Frequency Trading and Crypto Dark Pools: How Do They Work? crytocure 0 25 07-12-2018, 02:43 PM
Last Post: crytocure
  Political Decentralization: Freeing the Internet From Monopolists With Crypto-Tech crytocure 0 24 05-12-2018, 03:15 PM
Last Post: crytocure
  Future is Brighter Than Ever for Crypto, Says Roger Ver crytocure 0 28 05-12-2018, 04:26 AM
Last Post: crytocure
  Beware! Crypto Mining Software Can Be Used to Steal Corporate Secrets crytocure 0 20 04-12-2018, 02:26 PM
Last Post: crytocure
  Wall Street Continues to Experiment with Cryptocurrencies Despite Crypto Crash crytocure 0 28 01-12-2018, 11:32 AM
Last Post: crytocure

Users browsing this thread: 1 Guest(s)