Cryptocurrencies are now «undeniably part of traditional finance», according to the head of one of DeVere Group, the independent organization of financial services.
The audacious declaration of the founder and CEO of DeVere Group, Nigel Green, was made after the Financial Stability Board (FSB) had published a report that declared that Bitcoin and cryptocurrencies are not currently a risk to the global financial system.
Green commented: «Cryptocurrencies are the future of money and are already undeniably part of traditional finance, this being underlined by the FSB report, which believes that cryptocurrencies do not constitute a material risk for the global financial system and reports of financial institutions, corporations and investors now working with cryptocurrencies and blockchain, this due also to the developing of international regulation”.
DeVere’s CEO concluded: «There is now a growing awareness of the value, need and demand for digital and global currencies in a digitized globalized world. The world of money has changed radically, therefore the proactive and positive work of the FSB in this area must be supported «.