G20 Calls For Vigilant Monitoring Over Cryptocurrency

G20 Calls For Vigilant Monitoring Over Cryptocurrency

Cryptocurrency News
July 23, 2018 by Sandra Onyeiwu
1340
The just concluded G20 summit which was held last week released a report which included an official opinion on vigilant monitoring over cryptocurrency. The gathering which saw representatives from a total of 19 different nations come together in Buenos Aires to discuss the future of finance and digital economies. #Bullish *OFFICIAL #G20 COMMUNIQUÉ RELEASED* –
Bitzamp


The just concluded G20 summit which was held last week released a report which included an official opinion on vigilant monitoring over cryptocurrency.

The gathering which saw representatives from a total of 19 different nations come together in Buenos Aires to discuss the future of finance and digital economies.

According to the communique, technology and cryptocurrency can provide promising opportunities for growth and innovation. However, risks of instability take place as well. The G20 countries said:

“Technological innovations, including those underlying crypto-assets, can deliver significant benefits to the financial system and the broader economy. Crypto-assets do, however, raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing. Crypto-assets lack the key attributes of sovereign currencies. While crypto-assets do not at this point pose a  global financial stability risk, we remain vigilant.”

The statement further included a call to action on the part of the Financial Action Task Force (FATF) to clarify and define regulation and to work towards developing the policy to secure consumers investment.

 

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