Chairman of the Financial Stability Board,An international organization created by the G20 countries, expressed its concern about the pace of development of digital currencies and their strong impact on the global economy.
Despite the fact that in recent yearsgovernments and government bodies of almost all countries study the features of cryptocurrencies, develop regulations and laws to regulate the digital asset market, according to the head of the SPS Randal Quarles, they do not work fast enough.
In his letter to the Ministers of Finance andthe governor of central banks, he notedrapid development of this area and said that the Financial Stability Board intends to stimulate the pace of development of regulatory measures for new payment instruments.
In this regard, the SPS plans to hold consultations in April and learn public opinion in order to assess the benefits and potential risks of using digital currencies.
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