G20 agrees to ‘monitor’ cryptocurrencies

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Reuters is reporting on the G20 finance ministers’ meeting underway in Beunos Aires this week, where the hot topic of the day, when not discussing protectionism and potential trade wars, is cryptocurrencies.

Key highlights

Policymakers from the world’s twenty largest economies all agreed to keep a close eye on the crypto markets, opening the door to future regulation. With cryptocurrencies’ market capitalization so under-represented in the global economy, no standards-setting institutions are in a big rush to begin regulating the booming tech field, but calls for diligence in watching the action unfold and to develop strategies going forward suggests that legitimacy will be one step closer for the budding crypto market as regulators begin to bring the technology under their wing.

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