A consortium of banks and financial regulators, known as the Basel Committee, issued a public warning about the dangers of cryptocurrency for the traditional banking system. Its representatives believe that digital currency "will undermine the domination of banks over the global economy." They are concerned about the growth of cryptoindustry. The Basel Group insists that cryptocurrencies will be used to launder illegally obtained funds, to finance terrorism.
Cryptoenthusiasts and supporters of a decentralized economy are unlikely to be surprised by this position of a consortium of banking regulators. Many large financial institutions still negatively relate to the mass introduction of digital currencies, as they can radically change the economy.
We note, despite last year's volatility that followed the collapse of the Bitcoin course, many still believe in the potential of cryptocurrencies. Well-known crypto traders, financial analysts and investors expect digital currencies to grow again. In particular, they are betting on steyblecoins who, even in the “stern” 2018, received great credibility. Even Facebook has announced plans to issue its own stable coin.
