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FSB Sees No Threat From Cryptos, But Recommends 'Vigilant Monitoring'

Published 18/07/2018, 15:01

Investing.com - Cryptocurrencies do not pose a risk to global financial stability but require "vigilant monitoring" to prevent any future problems, according to a new report by the Financial Stability Board.The FSB, which was created by the G20 to oversee the proper running of the global financial system, also released a framework to"identify and mitigate risks" from crypto assets.
Going forward, the FSB will monitor crypto price volatility, the size and growth of initial coin offerings and the use of cryptos in payment systems.
The FSB said the framework will help its ongoing assessment of the financial system.
The FSB report was prepared for the G20 meeting in Argentina July 21-22.

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