S & P Global Ratings: banks remain isolated from crypto currency

The impact of crypto currency on financial markets is limited.

In the S & P Global Ratings report "The future of banking: crypto-currencies will require some rules for changing the game," S & P says that crypto-currencies are a speculative tool, but their possible collapse will not disrupt global financial stability, as banks are "largely isolated From crypto-currency.

Mohamed Damak: future crypto currency depends on regulators

Mohamed Damak, senior financial expert at S & P Global Ratings, commented on the findings of the study: "At present, the significant difference in market value of crypto-currency is just a small ripple for the financial services industry, it is still too small to break stability or affect the creditworthiness of banks.

Damak explained: "We believe that the future success of the Crypto-currency will largely depend on the coordinated approach of global regulators and politicians to regulating and increasing the confidence of market participants in these instruments,"Investmentweek.

Author: Evgenij Novožilov, Analyst Freedman Club Crypto News

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