BITCOIN could be set for a comeback after climbing 10 percent over the last day to hit a high of $7,523 in the early hours this morning. Prices have been boosted by yesterday's report from the Financial Stability Board (FSB), leading one expert to herald proof that "cryptocurrencies are the future of money."
Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $7,460 this morning with ethereum climbing to $504 and ripple up at $0.51.
Prices are up today after the FSB has sent the crypto community a welcome boost by delivering a framework for the world's leading G20 countries to “monitor the financial stability implications of crypto-assets markets.”
Pouring cold water on the idea of crypto sparking the next global financial meltdown the FSB said that cryptocurrencies like bitcoin “do not pose a material risk to global financial stability” but they fully support their “vigilant monitoring.”
CEO of deVere Group, Nigel Green, celebrates the news after BTC climbed the 50-day moving average (MA) on Monday for the first time in nearly two months, hiking its price above $6,700.