A name on the board of the Financial Stability Board (FSB) believes that crypto money can be dangerous to global financial stability.
Randal K. Quarles, one of the directors of the Financial Stability Board, Bank of International Payments attended a special event organized by. Quarles talked about crypto coins during the event and the arrangements for such assets.
Quarles said the Financial Stability Board has been conducting some research on the global financial system for some time. According to Quarles, the FSB also makes some assessments of the factors that could lead to global financial stability, which could lead to deterioration of stability.
Quarles, who is on the board of the Financial Stability Board, says that it is not easy to complete this evaluation process. According to Quarles ”The emergence of crypto-assets“, it may make it difficult to investigate the factors that may damage financial stability.
According to Quarles, the FSB began to do much more extensive research on the global financial system with the emergence of crypto coins and to follow this issue more closely. The FSB believes that crypto coins can damage financial stability, and that is why it aims to strengthen the financial system as much as possible.
The Financial Stability Board, which includes various financial institutions, central banks and regulators, issued some statements about crypto coins. According to a statement released in January by the FSB crypto coins for global financial stability “They didn't pose any threat.“
Financial Stability Board: Crypto Coins Not Threat to the Global Economy
The Financial Stability Board: Crypto Coins Can Force Finance Systems is prepared by Ömer SAKMAR and published on koinbulteni.com.