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#CryptoCorner: Crypto Could Raise Financial Stability Concerns According to Basel Committee, Coinbase Pro Adds XLM Support




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#CryptoCorner: Crypto Could "Raise Financial Stability Concerns" According to Basel Committee, Coinbase Pro Adds XLM Support

Point Roberts, WA and Delta, BC - March 14, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID ( NASDAQ: NXTD ) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: Crypto Could "Raise Financial Stability Concerns" According to Basel Committee, Coinbase Pro Adds XLM Support

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Crypto Could "Raise Financial Stability Concerns" According to Basel Committee, German Bankers Association Anticipates Regulation to Check DLT Development, Coinbase Pro Adds XLM Support and Thai Stock Exchange Building Digital Asset Platform

A group of banking authorities known as the Basel Committee, part of the Bank of International Settlements (BIS), issued a report yesterday claiming that cryptoassets "increase risks faced by banks". The Committee cites volatility, lack of standardization, money laundering and terrorism risks, and the inadequate functioning as a proper currency as reason why crypto threatens traditional banking and market stability.

The past few years have seen a growth in crypto-assets. While the crypto-asset market remains small relative to that of the global financial system, and banks currently have very limited direct exposures, the Committee is of the view that the continued growth of crypto-asset trading platforms and new financial products related to crypto-assets has the potential to raise financial stability concerns and increase risks faced by banks.

A statement issued by the German Bankers Association posited that with the growth of distributed ledger technology, new regulation may be necessary. As the use and development of DLT increases, the statement argues, updates to regulation may be required to check the disruptive nature of the technology.

A blog post yesterday revealed that Coinbase has added support for Stellar Lumens ( XLM ) on its Coinbase Pro platform. The post indicates that after 12 hours of deposits, which has now elapsed, full trading of XLM will commence. And once enough XLM is on the platform, trading with USD, EUR and BTC pairs will begin in phases.

The Stock Exchange of Thailand (SET) has announced that it is building a digital asset platform for a 2020 launch. This comes as part of an overhaul of the Thai capital market, which is being put through a "complete digitization" process. SET President Pakorn Peetathawatchai said:

"SET strongly believes that the collaboration with all stakeholders in enhancing the existing infrastructures that are a backbone of the current ecosystem and in building the new digital asset ecosystem will be a turning point that will take the Thai capital market to the next level. SET stands ready to build and operate the capital market that is underpinned by trust."

Sam Mowers, Investorideas

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#CryptoCorner: Crypto Could Raise Financial Stability Concerns According to Basel Committee, Coinbase Pro Adds XLM Support

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