G20 Considers Crypto As Assets, Not Currencies, According To Document Draft

G20 Considers Crypto As Assets, Not Currencies, According To Document Draft
Bloomberg has acquired a draft of a G20 document that implies that crypto should be considered an asset rather than a currency.

A draft of a G20 document -- acquired by Bloomberg -- reads that cryptocurrencies lack the traits of sovereign currencies, implying that the G20 considers crypto to be an asset rather than a currency, Bloomberg writes today, March 20.

The issue of how to define cryptocurrencies is expected to be discussed this afternoon, according to Bloomberg.

Klaas Knot, the chair of the Financial Stability Board (FSB), an international regulatory body formed by the G20 in 2009, and the president of De Nederlandsche Bank NV, told Bloomberg that Whether you call it crypto assets, crypto tokens -- definitely not cryptocurrencies -- let that be clear a message as far as Im concerned:

I dont think any of these cryptos satisfy the three roles money plays in an economy.

Yesterday, BTCs price jumped around $1000 after a letter to G20 circulated from the Bank of Englands governor, also the head of the FSB, that said cryptocurrencies were not a risk to the worlds economy.

20.03.2018 / 07:05 59
Russian Government Resolves Disagreement on Draft Crypto Law Russian Government Resolves
The Russia Federation is inching closer to deciding on a law covering initial coin offerings (ICO) and the trading of crypto tokens within the
US: SEC Official Confirms “Dozens” of Cryptocurrency Probes US: SEC Official Confirms “Dozens”
A SEC official has confirmed that the agency is currently working on dozens of cryptocurrency probes. The US Securities and Exchanges Commission
Thailand Delivers First Draft Of Digital Asset Regulations Thailand Delivers First Draft Of
Thailand could be just two votes away from confirming cryptocurrency and ICO regulations. Thailands government issued drafts of cryptocurrency and
Circle Co-Founder Says Recently-Acquired Poloniex Exchange Will Expand In Asia Circle Co-Founder Says
In a recent interview, Circles co-founder and CEO Jeremy Allaire said that the company is looking to expand its recently acquired crypto exchange
Bank of England Says Cryptocurrencies Will Fall, With False Claims Bank of England Says Cryptocurrencies
Bank of England Governor and consistentcritic of cryptocurrencyMark Carney once again called for regulatory oversight of the market in a speech at
Russian Officials Propose Lighter ICO Regulations, Cryptocurrency Income Tax Breaks Russian Officials Propose Lighter ICO
Russian officials have recently suggested a number of modifications to the draft law “on digital financial assets,” including tax breaks and
Comments (0)
Add a comment
Comment on