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


Does the G20 consider cryptocurrency to be an asset rather than a currency? If a draft of a G20 document obtained by Bloomberg is to be believed, then the answer to that is the former.

According to the said document, cryptocurrencies “lack the traits of sovereign currencies.” Furthered Klas Knot, chair of international regulatory board founded by G20 in 2009, the Financial Stability Board (FSB), “I don’t think any of these cryptos satisfy the three roles money plays in an economy.”

Overall, therefore the FSB head clarified that he does not think the existence of cryptocurrencies in the market should be a “risk” to global economy in general.


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