Last Sunday, an international group of regulators said that cryptocurrencies do not pose a threat to global financial stability. In a letter published on March 18, the chairman of the Financial Stability Board and the head of the Bank of England, Mark Carney, said that at this stage of the development of crypto there is no threat in them. In particular, he wrote: “Their small size and the fact that they are not currency substitutes and very limited for use in real economy and financial transactions mean that the connection with the rest of the financial system is limited.” Well, yes, and one of the main issues on the agenda of the G20 was done, because there is nothing to discuss and nothing more. Of course, cryptocurrencies are not at the moment able to have traditional financial systems, but to call them completely insignificant – it’s silly. Truth, as always, somewhere in the middle.
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