Why G20 Is Crucial For Crypto
Two collosal talks about crypto currency will be made today at the largest meeting between leading central banks and the biggest governments in the world. The G20 Summit Hosts representatives from over twenty countries, including Japan, Republic of Korea, China, Russia, and the USA.
One talk will be made by the OCED and the other will be made by the Argentina Treasury Minister. These talks may generate a ton of content about crypto which can impact the market in the coming week.
In recent weeks, the OCED has spoken out about how crypto exchanges are overregulating themselves.
The agency said exchanges want to air on the side of caution in the dawn of government regulation just to play it safe. But as a result, they are creating more oversight than they need to.
If the OCED continues to promulgate this stance on the national stage in front of these countries and central banks, this can be quite impactful as crypto markets continue to be regulated across the world. This would serve as the second awesome source of news this week, of course after Kevin O’Leary telling a crowd at MIT that he has crypto and he will be going long on it.
The other speaker is Argentina Treasury Minister Nicolás Dujovne. South America is often underestimated as a cryptocurrency hot bed.
G20 Host Country Argentina is in the forefront as it tries to revolutionize its economy and lead a free trade agreement deal between South America and the EU. The region of South America as a whole has the highest exposure to cryptocurrency in the entire world.
Argentina will probably use this platform to boost their own economy in light of recent droughts, the worst in nearly a decade.
Argentina will also use this platform to boost the trading bloc, Mercosur, as a long-awaited deal hopefully emerges between Germany (or Canada, or France) and the four-country, South American trade bloc.
Stay tuned this weeks as news surfaces about the featured presentations and the government statements that come as a reaction.
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BountBase is a virtual currency marketer & content creator that connects coin development teams with the larger blockchain community. You can follow us on Twitter @BountyBase
