G20 Says Cryptocurrency Not A Threat To Global Financial Stability
In an unexpected turn of events, the Financial Stability Board of the G20 noted that "The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time."
This came at a time when the market was near the weakest it had been in months, and anything overtly negative may have sent it spiraling further into a tailspin.
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This is a good news as now there is no confusion in the mind of those who think that blockchain technology will vanish overnight.
If the G20 does not have harsh words it may be a short term positive for the markets. I am not too surprised as most countries do not want to scare the innovation and growth that the technology behind cryptocurrencies could generate for their country. This can create jobs and ultimately taxes which help country economics.