Crisis in Argentina grips the headlines today. The Argentine peso (ARS) collapsed 30 percent in a matter of minutes yesterday while the stock market caved 48 percent before recovering. Continue reading NO, ARGENTINA IS NOT FLOCKING TO BITCOIN IN CRISIS
Trading volume on Finnish peer-to-peer (P2P) bitcoin (BTC) exchange Localbitcoins hit a high not seen since November 2018, reveals data shown on cryptocurrency analytics website CoinDance. Continue reading Argentina Drives LocalBitcoins Global Volumes
During this week’s G20 summit in Buenos Aires, Argentina, France’s minister of Finance Bruno Le Maire highlighted the importance bitcoin and cryptocurrencies may have in the world’s economy. Le Maire pointed out that France, along with Germany, called for cryptocurrencies to placed on G20’s agenda. Continue reading Bruno Le Marie Highlights Importance of Cryptocurrencies
The Financial Stability Board (FSB), an international body that monitors the global financial system to promote stability and coordinates financial regulation for G20 nations has dismissed calls from some G20 members to regulate cryptocurrencies like bitcoin. In a letter [PPDF] sent to G20 finance ministers and central bank governors on the eve of this year’s G20 summit in Argentina, FSB chairman Mark Carney has stressed that cryptocurrencies do not represent a threat to the global financial system, following a review by the authority. Continue reading Cryptos Don’t Pose Risks to Global Financial Stability
Earlier this week, Mnuchin spoke at the Senate Banking Committee. It was during this presentation that Mnuchin reportedly stated that even though he doesn’t believe cryptocurrencies pose a threat to the stability of the market, he is very wary about criminals using virtual currencies for criminal activity such as money laundering. For these reasons, Mnuchin plans to start a discussion regarding cryptocurrency regulation at the next G20 summit. The G20 summit allows for the globe’s 20 leading industrialized economies to come together, and the next one will be held in Argentina next month.
Interestingly, if Mnuchin ends up discussing cryptocurrency regulation next month at the summit, this actually won’t be the first time this topic has been discussed at one of the meetings. In 2015, the matter was discussed during a meeting with the G7 nations. For those who don’t know, the G7 includes the following countries: France, Italy, the United States, the United Kingdom, Canada, Germany, and Japan.