G20 Rejects Calls for Cryptocurrency Regulation

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The G20 Financial Stability Board has rejected calls for harder cryptocurrency crackdowns, deciding that it doesn't currently pose a significant risk to global financial stability.  Even if FSB didn't regulate cryptocurrency, they will watch closely the markets, saying it's still a little sector with less than 1% of the global GDP. Instead of laying down new rules for cryptocurrencies, existing laws should be revised to cover them more effectively. Is this a good or bad news for crypto? 

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It seems that crypto market is welcoming this news. Prices are rallying after the G20 resists to regulate crypto. 

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Maybe they haven't regulated it now but it will be in the nearest future. Crypto will be relevant and will have to be regulated. But now I'm thinking to invest some money in Steem. 

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I think that a regulation can be good for the crypto market if it is done correctly and it would bring only good things, not only in terms of price but also adoption. After regulation a lot of the "scam" coins will disappear and serious coins, like Steem, can get a boost.

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Every news has its good and bad sides. They are not ready for regulation yet because crypto is still young and nobody understands it. So better postpone it and gather more data in the future for better regulation. Bad side is that they don't taking crypto seriously. 

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but it's basically a thumbs up for cryptocurrency. You've got the G20 and the IMF all saying it would be bad to try to dismiss this. It's REAL. And bitcoin gained $1000 on this statement. 

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yeah, this is GOOD news for crypto. I mean, even the IMF is saying it's a thing that just needs to be regulated. I think those who have been saying things like crypto is 'stupid' or just going to zero out and die off are really on the wrong side of reality here. 

 

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 Bitcoin above $9,000 after G20 meeting. Up more than 20% from weekend lows

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