Italy’s central bank chief: Cryptocurrencies should be monitored not banned
- G20 has not requested the authorities to formulate laws, this the time to work together and watch for stability.
- The solution is not to ban cryptocurrencies, but to monitor them.
The recently concluded G20 summit in Buenos Aires agreed that cryptocurrencies are posing risks. However, most of the financial policy makers came to terms with the fact that the digital assets should not be banned entirely but regulated.
Italy’s central bank chief, Ignazio Visco said in a statement:
My understanding is that there was an acceptance of continuing to work also on the stability side with the idea that this doesn’t imply barring it,”
Before concluding his statement to reporters, Ignazio added that this was not a request for regulatory authorities to formulate cryptocurrency laws, however, he said that, the rules will come later.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
