Bitcoin
$ 32,623
Ethereum
$ 1,254.8
Litecoin
$ 140.68

Stablecoins are a Risk – G20

G20 nations are asking the International Monetary Fund (IMF) to help establish some of the economic implications associated with stablecoins, Reuters reports.

Join the fastest growing network on Telegram

In a press release obtained by FXStreet, the nations said, “We ask the IMF to examine macroeconomic implications, including monetary sovereignty issues in its members of global stablecoins.” The nations also add that while they acknowledge the “potential benefits of financial innovation,” they agree that stablecoins could give rise to a set of “serious” public policy and regulatory risk.

“Risks such as money laundering illicit finance, consumer and investor protection, need to be evaluated before stablecoin projects can commence operation,” the press release reads.

On Thursday, members of the G7 published a report stating that bitcoin and other cryptocurrencies have failed to be “reliable and attractive” means of payment or store of values.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Kenya Finance Act takes effect, charging 1.5% tax on digital currencies
January 23, 2021By
Concordium Becomes First Blockchain Member of FinTech Association of Japan
January 23, 2021By
Football Club Dynamo Kyiv Partners with Moonwalk to Develop Digital Ecosystem
January 22, 2021By

Advertisement

Video Posts

In
Solving Gender Inequality Using Blockchain S2 (Ep2): A Blockchain Solution To Close The Gap
January 22, 20210
In
Africa Digital Finance Summit 2021
January 20, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin32,623 1.36 % 3.28 % 11.32 %
Ethereum1,254.8 1.42 % 7.25 % 7.08 %
Tether1.000 --- 0.37 % 0.18 %
Polkadot18.01 1.41 % 10.09 % 36.49 %
XRP0.2737 2.17 % 3.19 % 2.39 %
Cardano0.3517 0.73 % 7.65 % 16.23 %
Chainlink23.68 2.16 % 15.16 % 14.92 %
Litecoin140.68 1.34 % 1.33 % 2.22 %
Bitcoin Cash433.80 1.79 % 1.48 % 11.48 %
Binance Coin41.12 1.73 % 2.57 % 0.29 %