Bitcoin prices recovered above $9,000 after regulators had “productive” discussions on cryptocurrency at a G-20 meeting of finance ministers and central bank governors in Buenos Aires, Argentina, on Tuesday. “The spirit of the discussion was very productive, and I agree that everybody left very pleased,” governor of the Central Bank of Argentina, Federico Sturzenegger, said Tuesday during a press conference.
“It was a very good meeting.” Cryptocurrency discussions happened during a closed-door session earlier Tuesday, a spokesperson from the G-20 told CNBC.
Bitcoin rose more than 4.5 percent above $9,000 for the first time in a week, according to CoinDesk’s bitcoin price index. The cryptocurrency was trading about 4.8 percent higher near $9,008 as of 4:13 p.m. ET, up 22.8 percent from a low of $7,335.57 hit over the weekend.
Bitcoin performance over the last week Italy’s central bank leader went a step further and told reporters after the meeting that cryptocurrencies pose risks but should not be completely banned, according to Reuters. “My understanding is that there was an acceptance of continuing to work also on the stability side with the idea that this doesn’t imply barring it,” Ignazio Visco, the governor of the Bank of Italy, told reporters on the sidelines of the meeting, according to Reuters.
Discussions inside the room “devoted a lot of time” to crypto assets, and the group agreed regulation needs to keep up with the technology’s fast pace, Argentina’s Sturzenegger said. The Argentine central banker outlined a summer deadline for G-20 members to have “specific recommendations on what to do” and said task forces are working to submit proposals by July. Read more from cnbc.com…
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