[2018-03-19] G20 Watchdog Says Cryptos Not a Risk, Resists Calls for New Rules

[Diced90]

The Financial Stability Board, G20’s global watchdog, does not consider cryptocurrencies a risk to financial stability. In a letter to the Group of 20 central bankers and finance ministers, its Chair Mark Carney said FSB was pivoting away from designing new policies and focusing on reviewing existing rules. His comments suggest there is no G20 consensus on common crypto regulations, despite calls from member-states for adopting global guidelines.
No Consensus for Global Crypto Regulations
The Financial Stability Board (FSB), the body that coordinates financial regulation for the G20 countries, has effectively dismissed calls from member-states to adopt global cryptocurrency rules. “The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” its Chair Mark Carney said in a letter to central bankers and finance ministers, Reuters reported.

Representatives from G20 countries are meeting today in Argentina. Statements in several member-states suggested that crypto regulations would be on the agenda of the summit. In February, high-ranking French and German officials issued a letter urging their colleagues to discuss the implications of cryptocurrencies, like bitcoin, within the G20 format. According to recent reports from Tokyo, Japanese representatives intended to push for global rules on cryptocurrencies.

read more https://news.bitcoin.com/g20-watchdog-says-cryptos-not-risk-resists-calls-new-rules/

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[Lancusters]

It seems to me that no changes will be accepted. It is impossible to make a common decision when many countries gather with a different approach to the problem of cryptocurrencies. China is an ardent opponent of cryptocurrencies (I just do not understand their motivation). Japan, on the contrary, is an ardent supporter of cryptocurrencies. How can these diametrically opposed views find common ground? Each country will continue to make its decisions.

[Schirer]

It seems to me that no changes will be accepted. It is impossible to make a common decision when many countries gather with a different approach to the problem of cryptocurrencies. China is an ardent opponent of cryptocurrencies (I just do not understand their motivation). Japan, on the contrary, is an ardent supporter of cryptocurrencies. How can these diametrically opposed views find common ground? Each country will continue to make its decisions.

I think this is a case of most discussions, they are a lot of different views and opinions and then you discuss it
till they reach a conclusion.

in anycase i understand both views that Japan wants a regulation but most of other countries dont care because cryptos are just not so popular. This means that we most likely have a more serious news from G20 next year ( if this is annual ) .

[percy_tc]

Finally some good news.