At the international summit of financial regulators of the G-20 countries, which was held on July 21th-22nd in Buenos Aires, representatives of governments and central banks of the participating countries...
At the international summit of financial regulators of the G-20 countries, which was held on July 21th-22nd in Buenos Aires, representatives of governments and central banks of the participating countries discussed issues of the world economy. The key topic of the meeting was cryptoassets. The participants also touched upon the development of the financial industry, information security, and the fight against terrorism.
The crypto-currency market reacted positively to the summit. The Bitcoin rate went up sharply, breaking the psychological mark of $8,000 and even reached $8,300. Thus, the main cryptocurrency increased by $1,000 in just one day.
The summit participants agreed that cryptocurrencies are not a threat to the stable development of the world financial system. At the same time, cryptocurrencies and blockchain regulators were recognized as innovative and promising technologies that could give a powerful impetus to the development of a new economy, but not without significant risks. Apparently, the market players have taken a balanced approach to the regulators. They do not deny the technological value of crypto-assets, but at the same time they urge to not forget about the risks for investors and the problems of money laundering and terrorist financing.
General standards for combating the illegal use of cryptocurrency will be developed by a special group before October of 2018.
Experts expect that the market will continue a positive trend and by the fourth quarter of 2018 the decline of the first half of the year will already be replaced with a new powerful breakthrough in the market. Experts expect an important role will be played by Chinese crypto-investors, despite the rather harsh policy of the Chinese authorities regarding crypto-assets and ICO's.
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