{"id":130294,"date":"2018-07-18T12:35:27","date_gmt":"2018-07-18T16:35:27","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=130294"},"modified":"2018-07-18T06:48:50","modified_gmt":"2018-07-18T10:48:50","slug":"devere-ceo-crypto-is-undeniably-mainstream-as-watchdog-backs-bitcoin","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/devere-ceo-crypto-is-undeniably-mainstream-as-watchdog-backs-bitcoin\/","title":{"rendered":"deVere CEO: Crypto is \u2018undeniably\u2019 mainstream as watchdog backs Bitcoin"},"content":{"rendered":"
July 18, 2018<\/div>
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By George Prior<\/strong><\/em><\/p>\n

Cryptocurrencies are now \u201cundeniably part of mainstream finance\u201d, affirms the boss of one of the world\u2019s largest independent financial services organizations.<\/p>\n

The bold statement from the founder and CEO of deVere Group, Nigel Green, comes as the Financial Stability Board (FSB), has released a report that concludes Bitcoin and cryptocurrencies do not currently pose a risk to the global financial system.<\/p>\n

It also comes as Bitcoin (BTC), the world\u2019s largest and most influential digital currency, climbed the 50-day moving average (MA) on Monday for the first time in nearly two months, hiking its price above $6,700.<\/p>\n

Mr Green comments: \u201cCryptocurrencies are the future of money and they are already undeniably part of mainstream finance.<\/p>\n

\u201cThis is underscored today by the report by the Financial Stability Board (FSB), the international watchdog, which finds that cryptocurrencies do not pose a material risk to the global financial system \u2013 which some\u00a0traditionalists with vested interests have hitherto argued in order to knock digital currencies.\u201d<\/p>

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He continues: \u201cThis report comes after the FSB, which is headed by Bank of England Governor Mark Carney, previously wrote a letter to the G20 finance ministers and central bank governors earlier this year stating that Bitcoin does not pose a \u2018systemic risk\u2019 to the global financial system.<\/p>\n

\u201cAs such, the latest report can be\u00a0seen as further recommendation of cryptocurrencies from the influential FSB \u2014 which has members from all the G20 major economies.\u201d<\/p>\n

Mr Green goes on to say: \u201cThe FSB’s conclusion follows more and more\u00a0global financial institutions, major corporations and household name investors now working with cryptocurrencies and blockchain, the technology that underpins them, and as international regulation is developed further.”<\/p>\n

In May, deVere revealed findings of\u00a0a global survey that found 35 per cent of wealthy investors will have exposure to cryptocurrencies by the end of 2018.<\/p>\n

At that time, Mr Green said: \u201cThe survey\u2019s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies.\u201d<\/p>\n

The deVere CEO concludes: \u201cThere\u2019s now surging awareness of the value, need and demand for digital, global currencies in a digitalized, globalized world.<\/p>\n

\u201cThe world of money has fundamentally changed \u2013 and despite what some crypto cynics want, it can\u2019t and will not go backwards. Therefore, the FSB\u2019s proactive and positive work\u00a0in\u00a0this sector must be championed.\u201d<\/p>\n

About:<\/strong><\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Cryptocurrencies are now \u201cundeniably part of mainstream finance\u201d, affirms the boss of one of the world\u2019s largest independent financial services organizations. The bold statement from the founder and CEO of deVere Group, Nigel Green, comes as the Financial Stability Board (FSB), has released a report that concludes Bitcoin and cryptocurrencies do not […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-130294","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=130294"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130294\/revisions"}],"predecessor-version":[{"id":130295,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130294\/revisions\/130295"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=130294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=130294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=130294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}