Cryptocurrency can revolutionize the approach to assessing financial vulnerability for the world economy. This statement was made by the new Chairman of the financial stability Board Randall Quarles.
He stressed that the revision of the standards of the organization in regard with the prevention of financial risks.
“The emergence of scriptaction can undermine any program. However, the task of developing a reliable standards becomes even more important,” he said.
Quarles expressed hope that the updated standards will enable the financial stability Council to make more educated recommendations for G20 participating countries in the light of the active development of new technologies.
Recall that in July 2018, SPS announced plans for the introduction of a framework designed to assess the risks of the cryptocurrency.
In December final Declaration of the G20 summit, it was stated that the regulation of digital assets will be managed according to the standards of Group of development of financial measures of struggle against money-laundering (FATF).