International Finance Watchdog In Surprise Bitcoin Backing As It Reveals Crypto Stocktake

July 17, 2018

 

International financial watchdog, the Financial Stability Board (FSB), has released a report that found bitcoin and cryptocurrencies do not currently pose a material risk to the global financial system. According to a report published by the watchdog, cryptocurrencies "do not pose a material risk to global financial stability at this time." Meanwhile, the FSB — which has members from the G20 major economies, the European Commission — said it planned to monitor cryptocurrency assets at banks and the world's largest financial systems.

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