Bitcoin Barely Rates a Mention Among Top Risks to Financial System
- U.S. regulators say current stability impact is very limited
- Digitial currencies pose regulatory challenge, FSOC says
Bitcoin: What’s Coming in the Year Ahead
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The U.S. government’s chief watchdog for financial system threats put out its annual list of potential nightmares, and the burgeoning market for digital currencies such as bitcoin didn’t rate much more than a few lines in the 152-page report.
While big names in global finance such as JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon have publicly warned that cryptocurrencies are doomed to collapse, the Financial Stability Oversight Board isn’t concerned yet. The panel said digital currency’s “current impact on financial stability is likely very limited.”