• Tue, 19 Nov 2019, 05:39 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Crypto assets currently do not pose threat to financial stability, says FSB

Image: BitcoinExchangeGuide

Thu, 11 Oct 2018, 07:24 am UTC

The Financial Stability Board (FSB), an international body monitoring the global financial system, has published a new report that highlights the analysis behind its proactive assessment of the potential implications of crypto-assets for financial stability.

The report, “Crypto-asset markets: Potential channels for future financial stability implications,” follows the summary of the work of the FSB and standard-setting bodies on crypto-assets published in July.

The latest report includes an assessment of the primary risks associated with crypto-assets and their markets, such as low liquidity, the use of leverage, market risks from volatility, and operational risks. On the basis of these features, the FSB said that “crypto-assets lack the key attributes of sovereign currencies and do not serve as a common means of payment, a stable store of value, or a mainstream unit of account.”

“Based on the available information, crypto-assets do not pose a material risk to global financial stability at this time. However, vigilant monitoring is needed in light of the speed of market developments,” it added.

The FSB said that crypto-assets could have implications for financial stability in the future if their use continues to evolve.


Crypto-assets also raise a number of policy issues, the FSB said, such as the need for consumer and investor protection, AML/CFT regulations, regulatory measures to prevent tax evasion, and more.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,163.16 (-3.12%)
  • Ethereum (ETH) $175.60 (-3.29%)
  • XRP (XRP) $0.251500 (-2.40%)
  • Bitcoin Cash (BCH) $240.05 (-6.26%)
  • Litecoin (LTC) $55.41 (-3.46%)
  • Bitcoin (BTC) $8,163.16 (-3.12%)
Nov 19, 2019 (Tuesday)
13:22
Crypto exchange Gemini acquires NFT platform Nifty Gateway
12:05
Weibo suspends accounts of Binance and Tron amid fresh crackdown of crypto businesses in China
12:01
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:00
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:03
Crypto Technicals: XLM/USD breaks below 50-DMA, hits 3-weeks low (0.0645), bias bearish
10:48
Binance unveils fiat-to-crypto gateway for Turkey
09:44
U.S. SEC to review Bitwise’s Bitcoin ETF proposal; Reason behind the revisit still unclear
09:39
Factom wins second DHS SVIP award to develop blockchain-based anti-forgery solution
08:51
Blockchain-based payment processor RadPay secures $1.2M in a series seed round
08:33
National Advisory Council urges FEMA to adopt blockchain tech to increase aid efficiency for disaster-stricken areas
08:28
Crypto Technicals: BCH/USD breaks 4H 200-SMA support, hits 4-week lows at 237.50, bias lower
07:18
Nomura’s joint venture ‘Boostry’ releases official webpage of its security token platform
07:16
Fledgling crypto money lending platform raises $25M led by Andreessen Horowitz
06:59
Crypto Technicals: ETH/USD ends consolidation, break below 50-DMA and rising volatility support downside
06:26
Indian state of Telangana to adopt blockchain tech to fight fraudulent academic certificates
06:06
Crypto Technicals: LTC/USD breaks below 50-DMA, bias strongly bearish
05:18
German airline successfully uses first blockchain-powered tickets
05:15
SBI Ripple Asia, SBI Remit launch first Japan-Vietnam money transfer service using distributed ledger technology
04:45
Crypto Technicals: BTC/USD finds strong support at 55W EMA (7952), consolidation likely before next leg lower
04:10
Cashaa to cater U.S. crypto businesses; Account set-up fee is around $1,500
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft