Facebook’s Libra project is facing increasing opposition with the German minister of finance joining the bandwagon citing the coin’s disruption potential as a major threat to the EuroZone.
According to Huw van Steenis, senior adviser to Bank of England Governor Mark Carney, cryptos have no value and fail fundamental tests of financial services.
Bitcoin and other cryptocurrencies show recovery after positive comments from the Financial Stability Board. Today’s discussion of the G20 ministers will put more light on the state of crypto regulations.
In the run-up-to G20 summit, the news about the FSB’s positive approach to cryptocurrencies has resulted in an optimistic upturn in the market.