Bitcoin jumps high on Financial Stability Board's letter

Bitcoin jumps high on Financial Stability Board's letter

The Financial Stability Board sent a letter to G20 finance leaders, where is said that cryptocurrencies do not pose risk to global financial stability.

By the end of the previous day Bitcoin exchange rate was closer to $9,000.

The maximum Bitcoin price was $8,895, the minimum - $8,148. Bitcoin market capitalization was 149.78 B, according to Business Insider.

Other cryptocurrencies also raised: Ethereum - $559, Bitcoin Cash - $1,063 Litecoin - $170.

The growth of cryptocurrency rates is connected to letter of Financial Stability Board to G20 finance leaders.

FSB Chair Mark Carney in his letter to the G20 Finance Ministers and Central Bank Governors said that cryptocurrency doesn't pose a risk to global financial stability.

"Responding to the concerns of members, the FSB has undertaken a review of the financial stability risks posed by the rapid growth of crypto-assets. The FSB's initial assessment is that crypto-assets do not pose risks to global financial stability at this time," wrote Carney, who is also the head of the Bank of England.

He noted, that current crypto-assets are small, compared to the financial system, so they doesn't threat financial stability. And even the recent cryptocurrency peak has a common capitalization less than 1 percent of global economic output.

On March 19 the First G20 Meeting of Finance Ministers and Central Bank Governors begins, where finance ministers of 22 countries and 17 central bank governors are discussing the key issues of  global economy, focusing on cryptocurrencies control and development of digital financial technologies. The G20 summit could become a turning point for cryptocurrency market, given the fact that investors call for global coordination to regulate this market.


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