BoE head Carney says cryptocurrencies don’t pose risk to financial stability

Governor of the Bank of England Mark Carney, in his role as Chair of the Financial Stability Board (FSB)

Carney set out the Board’s views in a letter to G20 central bankers and finance ministers (who are to meet in Buenos Aires on Monday and Tuesday this week)

• “The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time”

Also commented, which may have implications for new regulation on cryptos (perhaps perhaps not so much as is though)

• “As its work to fix the fault lines that caused the financial crisis draws to a close, the FSB is increasingly pivoting away from design of new policy initiatives towards dynamic implementation and rigorous evaluation of the effects of the agreed G20 reforms”

Carney is still not quite across the whole middle finger salute thing

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The Financial Stability Board coordinates financial regulation for the Group of 20 Economies