Mark Carney to the G20: Cryptocurrencies Pose No Risk to World Economies
Mark Carney to the G20: Cryptocurrencies Pose No Risk to World Economies
"Cryptocurrencies pose no risk to world economies."
This was insisted by Bank of England Governor Mark Carney as he wrote a letter to the members of the G20. An optimistic sign for those of us trading through the current crypto bear market.
Governor Carney will end his term as BoE Governor next year, but has made it clear that whoever succeeds him in the role, would not be pushing through new standards for cryptocurrencies, but instead wold be overseeing a more open watchdog focused on reviewing current rules.
“As its work to fix the fault lines that caused the financial crisis draws to a close, the FSB is increasingly pivoting away from design of new policy initiatives towards dynamic implementation and rigorous evaluation of the effects of the agreed G20 reforms.”
The cryptocurrency sector is rapidly evolving and this stance will allow it to grow. We don't yet know what it's going to be, so by fostering the industry with friendly regulations, it's at least given a chance.
While the proportion of media attention might have you thinking otherwise, Don't forget that the entire cryptocurrency sector is worth less than 1% of global GDP.
Global regulators shouldn't be getting carried away and it would look like they aren't. Smart decision all round.
Best of probabilities to you.
Peace ✌🏻.
Instagram: @forexbrokr
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So more insider information I take it. They’re using this news to pump the market up for a bit of quick gains before continuing the bloodbath. This is good fundamental news, but the market price is not closely connected to fundamentals at this point. Good news tho. Thanks for the post! Resteem
Yeah, I agree that technicals lead and right now we’re in a bearish trend. Any short term rally will just get sold.
This will likely just get sold too.
so now hope for a new bitcoin rally! i m into
Thanx for the information
Greetings from the carrebean. mikeCee
enjoy
Looks like you’re living the dream mate. Enjoy!
oje that s the true, it is so beautiful here. living my dreams here. And you - what kind of dreams do you wasnt to reach?
Just what the doctor ordered! Alriiigghht!
Drug up! 😂
Given the vast span and influence that crypto and blockchain is having and will continue to have (despite being such a small portion of GDP as you note), it only seems prudent that the G20 and world nations assert their "friendliness" toward this new asset class. It's hard to imagine that them taking a hostile approach would do anything less than foster stronger adoption overall. I would think most G20 participants seek to control the fire rather than stoke it...
For future viewers: price of bitcoin at the moment of posting is 8226.50USD