The cryptocurrency market is green, after the G20 decision to suspend its regulation.
According to Rothers, the global regulator, which launched a wave of banking and market reforms after the past financial crisis, said it would work harder to revise current rules instead of enacting new ones.
"G20 rejects the request to codify cryptocurrency"
The Financial Stability Board (FSB), which regulates the G-20 financial regulations, also rejected the demands of some members of the group to apply rules and regulations on encoded currencies, led by the Betquin.
Curved currencies in general and in the UK, especially in the past year, have risen dramatically as prices have rocketed, falling in recent months as a result of warnings and fears of the post-regulation period.
In view of the lack of consensus on the regulation process, the Federal Security Service said more international coordination was needed to fill the data gaps in monitoring this rapidly evolving sector.
In a letter to central bankers and finance ministers from the G20, who will meet in Buenos Aires on Monday and Tuesday, FSB President Mark Carney said:
"The initial FSB assessment confirms that cryptocurrency are not currently a threat to global financial stability."
In a sudden shift, the director of the Bank of England and the president of the FSB, Mr. Carnes, who is known for his harsh remarks against cryptocurrency and whose term expires at the end of next year, confirms that his successor will oversee the FSB and will focus on reviewing existing rules instead of pushing rules And new preparations.
This news has had a positive impact on traders' psyche today, as we expect some recovery this week.