G20 and cryptocurrency: cryptocurrency is an asset, not money

G20 and cryptocurrency: cryptocurrency is an asset, not money

The draft G20 document that was made available to Bloomberg, it is argued that cryptocurrencies “have the attributes of a sovereign currency”.

This means that the G20 believes cryptocurrency is an asset rather than a currency. According to Bloomberg, the question of how to categorize crypto-currencies should be discussed today.

Klaas Knot, Chairman of the financial stability Board (FSB), an international regulatory body formed by the G20 in 2009, as well as managing the Dutch Central Bank, said in an interview for Bloomberg that “call them crypto assets, cryptographic tokens, but in any case they are not a cryptocurrency, it should be absolutely clear.”

I don’t think at least one of these cryptocurrencies performs three roles that money plays in the economy.

Yesterday the price of BTC jumped by about $ 1,000 after it became known about the letter of the head of the FSB, addressed to the Ministers of Finance and heads of Central banks G20, which said that cryptocurrencies do not pose a risk to the global economy.

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