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S & P Global Ratings: Crypto Needs "Some Rules" for "Future Success"

S & P Global Ratings released a report entitled "The Future of bank: Cryptocurrencies will need rules for Change The Game, "which details the possible outcomes for global financial markets relative to shares of crypto markets.

Even if a crash in early February in traditional markets and crypto-markets seemed to show synchronicity, Mohamed Damak, chief financial officer of S & P Global Ratings, does not see this correlation as significant, reports CNBC :

"For now, a significant decline in the market value of cryptocurrencies would be only a wave in the financial services sector, still too small to disrupt stability or affect the creditworthiness of the banks we value. "

According to the S & P report, retail investors, as opposed to banks," The hardest in the case of a crash crypto:

"We believe that the rated banks will be largely isolated, since their direct or indirect exposure to cryptocurrence seems to remain limited."

Damak was also emphasized the importance of regulation in the crypto sphere:

"We believe that the future success of cryptocourses will largely depend on the coordinated approach of regulators and decision-makers and strengthen the confidence of market players in these instruments. "

The report notes that Blockchain technology could cause a disturbance global financial markets

Large companies around the world are already starting to experiment with Blockchain – The Chinese PC company Lenovo has recently filed a patent for a Blockchain document verification system, and the first major agricultural business use of Blockchain technology was completed in January by the shipment of the company. a shipment of soybeans from America to China.

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