Post a Comment Print Share on Facebook

Bitcoin – a threat to financial stability? FSB is expressed

The Financial Stability Board (FSB) has on 6. In June a report to the decentralized financial technologies published. The Financial expresses stability Board to

- 54 reads.

Bitcoin – a threat to financial stability? FSB is expressed

The Financial Stability Board (FSB) has on 6. In June a report to the decentralized financial technologies published. The Financial expresses stability Board to its evaluation of crypto-currencies like Bitcoin & co., The international organization draws this conclusion about the impact of the Distributed Ledger technologies on international financial stability.

By Phillip Horch
6. June 2019BTC$7.697,00 1.02%part Facebook Twitter LinkedIn xing mail

Bitcoin is commonly referred to as decentralized electronic money system, the banks are in competition to Central. With its publication over 10 years ago, the unknown inventor Satoshi Nakamoto got the ball rolling. Finally, the buoyancy of the Distributed-Ledger - or Blockchain-technologies started with the Bitcoin White Paper. Whether this can be the international financial stability, is dangerous, has examined the FSB now.

the basis for the G20-summit

The current Report is intended to serve as a basis for the forthcoming G20 summit. Discuss on 8. and 9. June Japanese-Fukuoka Finance Ministers and Central Bank representatives of the Financial evaluated the future of the regulation of Bitcoin & co. Overall, the stability Council to be differentiated. So he sees on the one hand, opportunities for financial stability:

In the report, it is noted that the application of decentralized financial technologies and more decentralized financial system, lead to the you can, could contribute in some way to financial stability. You can also lead to more competition and diversity in the financial system and the systemic importance of some existing enterprises will reduce,

the authority notes in its communication. Nevertheless, the Council sees a danger that can be caused by the concentration of Capital in the digital financial systems. In the report itself, this issue will continue to run and therefore the fact referred to, that about the Bitcoin Mining increasingly centralized.

Bitcoin & co. can have confidence in the Public, endanger

In addition, Bitcoin & co. might make to the authorities and regulatory difficulties:

at the same time, the use of decentralized technologies may bring risks to financial stability. The Emergence of concentration in the ownership and operation of key infrastructure and technologies [...] in the case of decentralized risk-taking. New uncertainties in the determination of legal liability and consumer protection can also have an impact on the Public's confidence in the financial system.

authorities and governments are due to the new challenges Bitcoin & co., encouraged, to contact with interest groups from the crypto sector in the dialogue. The only way to guarantee that unforeseen complications curb, the report said.

the Financial stability Board (FSB)

The FSB coordinates at the international level the work of national financial authorities and the Shaping of international Standards, and developed the implementation of effective regulatory, Supervisory and other financial sector policies in the interest of financial stability. It combines the for financial stability in 24 countries and jurisdictions, the national competent authorities, financial institutions, international groupings of regulators and committees of Central Bank experts. The FSB, through its six regional consultative groups also Outreach with approximately 70 other jurisdictions.

the chair of The FSB Randal K. Quarles, Vice-Chairman of the supervision of the US Federal Bank; Vice President, Klaas Knot, President of De Nederlandsche Bank. The FSB Secretariat has its headquarters in Basel, Switzerland, and is supervised by the Bank for International settlements.

Bitcoin & Altcoins to buy: , crypto currencies, buy, sell, or trade – we have selected the best Broker, stock exchanges and certificates: buy Bitcoin | Ether buy | Ripple to buy | IOTA buy | Broker-comparison


Austria draws the Bitcoin lever: The regulatory-ECHO From the old to the new: Japanese crypto-exchange, and Yahoo-pupil TaoTao after the launch of the Russian Central Bank thinks about the gold covered Cryptocurrency
Your Name
Post a Comment
Characters Left:
Your comment has been forwarded to the administrator for approval.×
Warning! Will constitute a criminal offense, illegal, threatening, offensive, insulting and swearing, derogatory, defamatory, vulgar, pornographic, indecent, personality rights, damaging or similar nature in the nature of all kinds of financial content, legal, criminal and administrative responsibility for the content of the sender member / members are belong.