Bitcoin Not a Threat to Financial Systems, Says US Chief Financial Regulator

in #bitcoin7 years ago

The US chief financial watchdog, the Financial Stability Oversight Board (FSOC), claims that Bitcoin and other cryptocurrencies do not pose a threat to existing financial systems around the world.

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In its 152-page report, the FSOC stated that virtual currencies are only utilized by a very small number of consumers and their underlying Blockchain technology offers potential in various industrial applications.