An official draft of a G20 document acquired by Bloomberg, reads that cryptocurrencies “lack the traits of sovereign currencies,” implying that the G20 considers crypto to be an asset rather than a currency. The issue of how to define cryptocurrencies is expected to be discussed this afternoon.
Whether you call it crypto assets, crypto tokens, but definitely not cryptocurrencies, let that be clear a message as far as I’m concerned.” I don’t think any of these cryptos satisfy the three roles money plays in an economy.
Klaas Knot
Klaas Knot, the chair of the Financial Stability Board (FSB), an international regulatory body formed by the G20 in 2009, and the president of De Nederlandsche Bank NV.