Regulators of G20 countries call for monitoring cryptocurrency

At the meeting of Finance Ministers and governors of Central banks of the countries Big twenty (G20) on March 19-20 in Buenos Aires, financial leaders intend to appeal to international regulatory authorities to a more thorough monitoring of cryptocurrencies, because they involve risks threatening global financial stability.

«Technological innovation behind digital currencies, can increase the efficiency and attractiveness of the financial system. However, the cryptocurrency raised the problems in relation to the protection of consumers and investors, tax evasion, money laundering and the financing of terrorism. At some point, their use can have negative consequences for financial stability», – follows from their statements.

Regulators globally are concerned about the spread of cryptocurrencies and say they do not want to be involved in money laundering and financing of terrorism, and cause dissatisfaction of consumers and undermine confidence in the global financial system.

In early February, Finance Ministers and heads of the Central Bank of France and Germany called for a detailed discussion of control over the cryptocurrency at the meeting of the G20.

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