In the fresh annual report, International Monetary Fund decided that cryptocurrencies “do not appear to pose risks to financial stability”
The report claims that during 2017-2018 cryptocurrencies showed impressive growth, even though their total market value is still less than 3% of the four biggest world’s banks.
Despite the fact that there are 180 cryptocurrency exchanges functioning today, more than 80% of all the transactions take place at the 14 biggest ones.
Report registers a serious concentration of capital around Bitcoin (Bitcoin) , Ripple (XRP/USD) and Ethereum (ETH/USD). Thus, Bitcoin itself stands for 47% of all the cryptocurrency market.
At the same time significant expansion of crypto market “warrants vigilance by regulators”, and IMF declares its commitment to actively participate in elaboration of regulatory measures for new technologies.
By Nadya Astam