The FSB Counts Bitcoin as Non-Hazardous to the World Economy

The FSB Counts Bitcoin as Non-Hazardous to the World Economy

An assessment by the Financial Stability Board (FSB) does not find cryptocurrencies a threat to global economics but the fast-evolving market should be monitored, reports the Reserve Bank of India at the end of 2018

The FSB statement appears as a repeat of their October 2018 account where the overseers conclude cryptocurrencies do not prove an economic hazard but, due to its price volatility, are not good stores of value. It will only pose a threat to the global economy once investor confidence crumbles.

The FSB

The Financial Stability Board was established post-mortem of the 2008 global financial crisis. It was an effort spearheaded by G20 finance officials and Governors of Central Banks. Though its course of action does not hold judicial sway, it exists to watch over the global economy and construct proposals for economic stability. G20 members review and consider FSB recommendations.

Seeing Green in the Market

As of today; 7 January 2019, 3:34 a.m. GMT-5, the cryptocurrency market continues upward then a bit of sideways movement. BTC is up by 6.32% and valued at $4,096, ETH climbed 2.57% and now costs $157.33, XRP is a positive 6.03% priced at $0.3803.

Bitcoin

BTC
Price
8,744 USD -6.81%
Volume, 24h
3,497,717,274 USD
0.00%
Marketcap
153,922,072,217 USD
56%
Emission
84%

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