Prices for cryptocurrencies posted gains following the statement made by the Financial Stability Board (FSB).
After the detailed examination of the matter, FSB experts determined digital coins are not a threat to the global financial stability, as the news reports read. "The FSB's initial assessment is that crypto-assets do not pose risks to global financial stability at this time. This is in part because they are small relatively to the financial system," he stated in his letter to financial authorities that will hold a G20 meeting in Argentine this week.
At the same time, FSB highlighted the need to tighten international cooperation to eliminate gaps in the monitoring of the expanding but still small market segment (1% of the global GDP). The next step of the authority is to focus on the revision of the existing ruling, but not launching new ones, according to the sources.
The cryptocurrency issue will be discussed during the meeting of G20 members. According to the previous news reports, France and Germany intend to propose joint regulation measures for the sector during the meeting. Earlier, US Finance Minister also pointed out intentions to bring up cryptocurrency problems, expressing concerns about its use for money laundering and terrorist funding.
As a result, bitcoin has exceeded $8,500 today; similar positive dynamics has been posted by other main cryptocurrencies as well.