risks related to introducing cryptocurrencies into the traditional banking system. De Cos made these statements during the inauguration of the II Finance Observatory, an event that focuses on analyzing the state of the finance and insurance sectors.An increase in the direct and indirect exposure of banks to the crypto-assets sector would increase both their equity and reputational risks.
According to the governor, however, these would be the first effects of cryptocurrency mass adoption on the economy. The following effects would be even worse. De Cos explains that in a volatility event, “a generalized panic could stress the money markets and, by extension, infect the entities that act as custodians of the hedge assets.
So they are trying a lot about it
I think this is quite a promising and attractive phenomenon for banks. But is it necessary for crypto?
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Source: Cointelegraph - 🏆 562. / 51 Read more »