March 20, 2018 / 5:43 PM / 4 months ago

Cryptocurrencies need monitoring, not banning: Italy's Visco

BUENOS AIRES (Reuters) - Financial policymakers gathering in Buenos Aires on Tuesday agreed cryptocurrencies posed some risks but should not be banned altogether, the head of Italy’s central bank said on Tuesday after the meeting.

A coin representing the bitcoin cryptocurrency is seen on computer circuit boards in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/Files

“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 told reporters on the sidelines of the G20 meeting.

He added the G20 had not asked international regulators to craft new rules for these crytpotokens but added he expected this to happen at a later stage.

Reporting By Francesco Canepa

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