The Financial Stability Board issued its report to the G-20 finance ministers and central bank governors on the FSB’s work monitoring crypto-asset markets.
What does the international agency overseeing the global financial system think? It thinks cryptocurrencies aren’t as risky to world economies as some fear. At least not now.
“While the FSB believes that crypto-assets do not pose a material risk to global financial stability at this time, it recognizes the need for vigilant monitoring in light of the speed of market developments,” according to the report.
This is not the first time a global financial institution has emphasized the need to keep watching the crypto world as it expands. In May, the International Monetary Fund said in a report that cryptocurrencies “do not appear to pose risks to financial stability” but urged international cooperation on regulation as cryptocurrencies become more widespread, according to Cointelegraph. Read more here.