The G20 will work together to regulate the cryptocurrency market

The financial stability Board (FSB) is an international organization created by the Large industrial countries of twenty (G20) financial control – does not intend to create an international legal framework to regulate the cryptocurrency market. Earlier we wrote about the possibility of joint development of the principles of such regulation leading economies of the world.

That FSB will continue to focus on existing rules, not on promoting new standards in this area, said the organization’s President, mark Carney.

«Initial evaluation of the FSB is that today, cryptocurrency does not create a risk to global financial stability», – he said in a letter addressed to the Central banks and the G20 Finance Ministers, who will gather at the summit in Buenos Aires on 19 and 20 March.

According to him, cryptocurrency sector is fast growing, but still small, occupying less than 1% of global GDP, so it cannot seriously affect the financial system.

Bitcoin exchange rate responded to this message take off up to more than $ 1,000 after the lows of the resurrection. Now bitcoin is trading around $8400. Other cryptocurrencies have also risen in price.

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