On 19 February the international rating Agency S&P Global Ratings has published a report «the Future of banking: cryptocurrencies will require some rules to change the game.» The paper describes possible consequences of the development of crypto-currency systems for global financial markets.
The February drop courses on traditional market and the cryptocurrency market, Mohamed Damak (Damak Mohamed), Director of financial services of the Agency, does not consider the event as having special meaning:
«Such a fall in the market value of cryptocurrencies will not have a significant impact on the financial industry. The cryptocurrency market is still too small to disturb the stability and can have a serious impact on the creditworthiness of banks».
In the event of a serious collapse of the cryptocurrency market in the first place would hurt private investors, not the big banks, according to S&P.
Butwal attaches particular importance to the regulation in the cryptocurrency field:
«The future success of the cryptocurrency largely depends on the coordinated approach of the financial regulators and politicians to the regulation of cryptocurrencies and increase the confidence of market participants in these tools.»