A warning put out by Swiss financial body, Basic Committee on cryptocurrencies. The committee said potential risks are posted to banks; liquidity, credit and market risks, operational risk (including fraud and cyber risks), money laundering and terrorist financing risk, and legal and reputational risks. The Basel Committee on Banking Supervision, in Switzerland were commenting on the risks that cryptocurrency pose to banks and general global financial stability. They are a group of international banking authorities. The group has largely considered that there are potential risks for banks such as; liquidity, credit and market risks, operational risk (including fraud and cyber risks), money laundering and terrorist financing risk, and legal and reputational risks. They did further noted that presently banks have a “very limited” direct exposure to cryptocurrencies, institutions should still “at a minimum” ensure great due diligence is carried out. Finally noting that they should disclose any exposure to crypto assets to minimize the risks. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next AUD/USD remains depressed near 0.7040, looks to trade FX Street 4 years A warning put out by Swiss financial body, Basic Committee on cryptocurrencies. The committee said potential risks are posted to banks; liquidity, credit and market risks, operational risk (including fraud and cyber risks), money laundering and terrorist financing risk, and legal and reputational risks. The Basel Committee on Banking Supervision, in Switzerland were commenting on the risks that cryptocurrency pose to banks and general global financial stability. They are a group of international banking authorities. The group has largely considered that there are potential risks for banks such as; liquidity, credit and market risks, operational risk (including fraud and cyber… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
