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Crypto assets don’t pose a risk – yet: study

PARIS: Virtual currencies and so-called crypto assets do not, yet, pose a systemic risk, the body which makes recommendations about the financial system said in a study released Sunday. "The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time," said the Financial Stability Board. "The market continues to evolve rapidly, however, and this initial assessment could change if crypto-assets (notably digital currencies) were to become significantly more widely used or…

Belarus adopts crypto-currency law to attract foreign investors

MINSK: Belarus has legalised transactions in crypto-currencies, part of a drive to foster private sector growth and attract foreign investment by liberalising parts of its Soviet-style economy. President Alexander Lukashenko signed a decree on the move on Thursday, his press service said. Bitcoin, the world's most popular crypto-currency, has lost a third of its value since hitting a record high of close to $20,000 (14.952) on Sunday, but its supporters dismiss warnings over volatility and say it is the start of a new…

Things to know about ‘mysterious digital currency’ Bitcoin

TOKYO: Mark Karpeles, the former CEO of collapsed Bitcoin exchange MtGox, went on trial in Tokyo on charges stemming from the disappearance of hundreds of millions of dollars worth of the virtual currency from its digital vaults.  Here are some key facts about the world's most widely used crypto currency: What is Bitcoin? Bitcoin is a virtual currency created from computer code. Unlike a real-world unit such as the US dollar or euro, it has no central bank and is not backed by any government. Instead, Bitcoin's…