Thursday, 24 January 2019

Bitcoin Recovering, G20 Consider Crypto to be Assets and HKEX Works with ASX

Bitcoin (BTC) has been keeping stable and recovering gradually since the weekend with a current price of about $8500 USD. The market cap is sitting at about $330 million USD at press time, with Bitcoin (BTC) accounting for 44 percent.
According to a report from Bloomberg, the G-20 considers Crypto to be assets rather than currencies.

"Cryptos "lack the traits of sovereign currencies," according to a draft G-20 communique obtained by Bloomberg. The G-20 ministers are scheduled to discuss the issue in full Tuesday afternoon.

"Whether you call it crypto assets, crypto tokens -- definitely not cryptocurrencies -- let that be clear a message as far as I'm concerned," said Klaas Knot, president of De Nederlandsche Bank NV, who also chairs the Financial Stability Board's standard committee on the assessment of vulnerabilities. "I don't think any of these cryptos satisfy the three roles money plays in an economy.""

This follows news yesterday that Financial Stability Board (FSB) chairman Mark Carney said crypto-assets don't threaten the security of the world economy.

According to the Financial Times, the Hong Kong Stock Exchange (HKEX) is working with the Australian Securities Exchange (ASX) to share information on blockchain.

"Charles Li, chief executive of Hong Kong Exchanges and Clearing, told the FT on Tuesday that the venue is "developing a much closer dialogue to understand what they're doing, and sharing information... for sharing vendor relationships."

"The Australian Securities Exchange became one of the first trading venues globally to commit to blockchain when it said at the end of last year that it would use the technology to clear and settle equities."

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