https://bitnovosti.com/wp-content/uploads/2018/03/greater-regulation-of-cryptocurrencies-at-the-meeting-of-g20-finance-ministers-is-not-envisaged.jpg


The G20 meeting on Tuesday ended with the setting of the deadline to discuss regulation of the cryptocurrency in July, since the countries-the participants came to the conclusion that at the moment there is not enough information for decision-making.


The discussions of the participants, within the framework of the G20 meeting, on Tuesday were concentrated around cryptocurrencies. In particular, the question was raised whether digital coins could be considered money or not. By the end of the discussion, representatives of the G20 countries set a deadline for discussing the principles and rules of the currency regulation.

Federico Sturzenegger, Chairman of the Central Bank of Argentina, after a meeting with Finance Ministers, said that representatives of the countries need more information before proposing regulatory measures:

"In July, we have to offer very specific real recommendations about 'what are we regulating?’ and ' what information do we need?’»

A number of countries opposed the regulation of cryptocurrencies, including Brazil, which was represented by the President of the Central Bank of the country Ilan Goldfine.

If the countries of the big twenty are unable to reach consensus, not so important, what will be the output.

The position of both France and Germany was outlined at the beginning of the year, when the summit members were sent a proposal for discussion, which argued that cryptocurrencies can represent "potential risks in the field of financial stability."

Mark Carney, the head of the financial stability Committee, holds the opposite view, arguing that cryptocurrencies are limited in market capitalization, and such a volume of trading does not pose a real threat to the global financial sphere.

"Their small volume, as well as the fact that they do not replace currencies and can only be used in a limited way for real economic and financial transactions, means that the relationship with the rest of the financial system is also limited," mark Carney wrote in a letter last Sunday.

The fact that the views of countries were so different meant that the July discussions could also lead nowhere. Such an outcome could be positive for small companies that do not yet have the resources to comply with regulatory reforms. On the other hand, regulatory measures could give cryptocurrencies a more legal status, which would reduce the risks for payment platforms to adapt technology. Regulations have their pros and cons, so the G20 countries should discuss ways to regulate markets without blocking any opportunities for innovation.


<h2><b><center>↓↓↓ Trade your cryptocurrency here ↓↓↓</center></b>
<center><a href="https://www.binance.com/?ref=21509226" rel="nofollow noopener" title="This link will take you away from steemit.com to BINANCE"><img src="https://steemitimages.com/DQmS8Y5PoVJenL4Qo3WhRg1YWJ9VGcQRhFKQNx8BLePx3iZ/image.png"></a></center>

![line steemit.png](https://steemitimages.com/DQmc2H3Lgvc1aWLMBBeokhh3AkjrLpjDqsB49SqVYB7nXAy/line%20steemit.png)

<h2><center><b>If you liked my post please upvote & follow me.</b></center><center><a href="https://steemit.com/@bizon18"><img src="https://steemitimages.com/0x0/https://steemitimages.com/DQmTiCwPX5Eh6J9TrHZ9Aki1E8u7jM6gc2LqvycQ91JFrjQ/U5dt42G4xW1EyBKDCHWEBSZLxMxDnZk.gif" alt="U5dt42G4xW1EyBKDCHWEBSZLxMxDnZk.gif"></a></center>![vote for me.png](https://steemitimages.com/DQmfBdKVCAkWYRLvXc4CwGkb3BnQULBHZU27LRJFcXnXPWE/vote%20for%20me.png)

<center>![bitcoin spin.gif](https://steemitimages.com/DQmT1mdH4WiFZj1ipvLRqEPJ118ExJuiR91v5QW493up5Fg/bitcoin%20spin.gif)</center>