FSB claims that cryptocurrencies are not a threat

The Financial Stability Board (FSB) recently said that cryptocurrencies do not pose a threat to society and the world of finance.

On the other hand, it argued that to avoid that they become a problem for users, it is necessary to constantly go through a monitoring process in order to develop consumer protection policies.

“Based on the information available, the cryptoactives do not represent a material risk to global financial stability at the moment. However, vigilant monitoring is necessary to keep pace with the speed of market developments,” the FSB said in a statement.

All this comes after the European Securities and Markets Authority (ESMA) of the European Union announced that it will invest about 1.1 million euros to be able to closely monitor cryptocurrencies.

The world of digital currency is in the mouths of many entities around the world. Several North American authorities have thought about tracking conversations that are related to this, in order to avoid the operations of drug trafficking, among other criminal activities.

K. Tovar

Source: Reuters

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