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Virtual currencies are not a threat, says an intergovernmental body

An intergovernmental body that creates references to the suitability of the world economy has stated that virtual currencies are not a danger. The observation was made by the Financial Stability Board (FSB), which has more than 20 nations as members, such as the United States, United Kingdom, India and China. The assessment came to light after the Indian central bank, the Reserve Bank of India (RBI), cited the business in a non-confined bang in December 2018. The RBI report stated that the 39; FSB initiated an assessment of the risks of monetary constancy posed by the rapid growth of cryptocurrency activities. His initial assessment is that cryptocurrency activities do not pose a risk to world monetary constancy now. "

The administration is learning digitized money for more than 2 years at the moment, however, no detailed guidelines have emerged. Reently, the Indian assembly was also well informed that the administration is still learning the subject and has not even set a limit to enact exact rules for the ecosystem. Traders and Indian cryptocurrency trades have had difficulty in clarifying the guidelines, as they prefer an absolute restriction. From time to time, no guideline is not bad news. Perhaps the administration of India does not see cryptocurrencies as a matter of immediate concern, or what requirements need to be checked at the moment. This at least means that the fears of a ban are not imminent ", as Nischal Shetty, CEO of WazirX, an exchange of Indian cryptocurrencies.

In fact, the danger to the United States 'ability to apply permissions does not stem from the blockchain technology, nevertheless from the desire to end the United States' supremacy in payments and payments payments all over the world. Even European states like France, Germany and the United Kingdom are ready to work with China and Russia to grow a system of payments in all ways against US sanctions against Iran. Given such determination, which technology they choose to use is a subordinate question. But if it is a world-wide payment system similar to SWIFT, the blockchain consortium authorized by the dissenting states could be the most serious threat, not a public cryptocurrency network like Bitcoin.

Despite the movements of authoritarian governments, it is said that cryptocurrency and blockchain should not be evident as immediate pressures for national security. As with many new technologies, dishonest transgressors and administrators often try to discover the possible use of this know-how to force bad acts. Fenusie is not confident that Iranian cryptocurrency will do much to strengthen its national economy, as the new cryptocurrency is said to be linked to the weak paper currency of Iran, the Iranian Rial. This will probably satisfy the attention of investors, and even the Iranian countries will find alternative solutions to capitalize on additional precious crypts.

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