Basel Committee report notes

A group of regulators included in the so-called Basel Committee, considers the threat of mass introduction of cryptocurrencies in the global market.
Analysts of the committee presented a report in which they stated that the massive use of digital currencies could lead to fundamental changes in the modern financial system.
The report notes:
The continuing growth of trading platforms for cryptocurrency transactions and the launch of financial products related to cryptoactive assets increase the risks for the global financial system
The Basel Committee believes that cryptocurrency is the main threat to the banking sector. There are risks associated with insufficient liquidity, operational risks and the threat of using tokens for money laundering.

Consortium analysts are confident that cryptocurrency is used primarily by fraudsters, and the high volatility of the crypto market can lead to the emergence of so-called “bubbles”.
However, in the report, the authors for some reason did not point out a very important fact – in the past few months, the cryptographic bills, on the contrary, demonstrate extremely weak volatility, which proves a stable bitcoin rate.


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