July 16, 2018 / 8:51 AM / 2 months ago

Global regulators set out monitoring system for crypto-assets

LONDON (Reuters) - Global regulators have published a framework for "vigilantly" monitoring risks from crypto-assets like bitcoin BTC=BTSP and ether, even though they don't pose a major risk to financial stability for now.

FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/File Photo

The Financial Stability Board (FSB), which coordinates financial regulation for the Group of 20 Economies (G20), said the framework focuses on how risks from crypto-asset markets could spread to other parts of the financial system.

“Monitoring the size and growth of crypto-asset markets is critical to understanding the potential size of wealth effects, should valuations fall,” the FSB said in a statement on Monday.

“The use of leverage, and financial institution exposures to crypto-asset markets are important metrics of transmission of crypto-asset risks to the broader financial system.”

Reporting by Huw Jones; Editing by Matthew Mpoke Bigg

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