Basel Committee on Banking Supervision (BCBS), issued a warning regarding crypto assets on 13 March 2019. BCBS is a committee of banking supervisory authorities made up of 60 of the world’s central banks.
The statement said:
The past few years have seen a growth in crypto-assets. While the crypto-asset market remains small relative to that of the global financial system, and banks currently have very limited direct exposures, the Committee is of the view that the continued growth of crypto-asset trading platforms and new financial products related to crypto-assets has the potential to raise financial stability concerns and increase risks faced by banks. Read the full statement here
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