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Wait & See: How Global Economic Growth Is Setting Up Crypto For Soft Regulation

Disclaimer: This is not financial advice. I am not a financial advisor. What follows is my personal, subjective, biased opinion.

The News

On Monday and Tuesday, the ‘First Meeting of Finance Ministers and Central Bank Governors’ under Argentina’s G20 presidency will take place in Buenos Aires. It will center around new technologies, infrastructure, and cryptocurrencies.

In a letter to the Heads of Delegation, Governor of the Bank of England (BoE) and Chairman of the G20’s Financial Stability Board (FSB), Mark Carney, reiterated his stance that at present, cryptocurrencies do not pose a threat to global financial stability, due to the small overall size of the market.

G20 watchdog focuses on rules review, holds fire on cryptocurrencies

Carney added that a decade after first getting on fixing the flaws that enabled the 2008 financial crisis, the FSB is pivoting away from designing new rules and towards reviewing and adapting existing ones.

The Facts