TagFSB

Bitcoin Does Not Threaten Global Economy According To FSB

Bitcoin and other cryptocurrencies do not pose a threat to the world economy, but should be monitored as the market "continues to evolve rapidly." That's the assessment of the Financial Stability Board (FSB), an international body that monitors the global economy. The observations were brought to light in a December 28 report by the Reserve Bank of India (RBI), which is India's central bank. The...

G20 Countries to Regulate Cryptocurrencies in Line with FATF Standards

The G20 Countries have signed a joint declaration in Buenos Aires, where it promises to regulate cryptocurrencies and combat its use for money laundering and the financing of terrorism in line with the Financial Action Task Force (FATF) standards, per a Saudi Gazette report. Section 25 of the declaration signed by the forum reads: "We will regulate crypto-assets for anti-money laundering and...

Cryptocurrencies Pose No Risk to Global Financial Stability: International Watchdog

bank for international settlements

A report published by the Financial Stability Board (FSB) on Wednesday, claimed that cryptocurrencies do not pose a risk to global financial stability at the present time while suggesting crypto markets need to be monitored. The report, which focuses on an assessment of the likely implications of crypto-assets for financial stability is a follow-up on an initial assessment carried out in the FSB...

Russia May Unban Telegram...if it Shares Encryption Keys with the FSB

telegram russia ban

Russia’s telecommunications watchdog said that it will consider reversing the ban on messaging service Telegram if the company submits to a court order requiring it to share its encryption keys with federal law enforcement. Russia-based news outlet RT reports that Roscomnadzor (RKN), which began blocking local access to Telegram after the company refused to comply with that court order, said that...

G20 Watchdog Develops ‘Vigilant’ Cryptocurrency Monitoring Framework

G20 FSB Cryptocurrency

The Financial Stability Board (FSB), an international body tasked to monitor the global financial system while coordinating regulation for G20 nations, has published a new framework for monitoring cryptocurrency assets. With an announcement on Monday, the FSB published its report and revealed its standardized framework delivered to G20 finance ministers and central bank governors ahead of their...

Cryptos Don’t Pose Risks to Global Financial Stability: FSB’s Carney Tells G20

The Financial Stability Board (FSB), an international body that monitors the global financial system to promote stability and coordinates financial regulation for G20 nations has dismissed calls from some G20 members to regulate cryptocurrencies like bitcoin. In a letter [PPDF] sent to G20 finance ministers and central bank governors on the eve of this year’s G20 summit in Argentina, FSB chairman...

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