Bitcoin Drops Ahead Of G-20 – Central Bankers Can No Longer Ignore Cryptos

Read more on this subject: Currencies
News Story Source:, by Tyler Durden
As we detailed when it hit overnight, mimiccing its biggest rival for ad dollars – Facebook – Google will ban online advertisements promoting cryptocurrencies and initial coin offerings, and "other speculative financial instruments" starting in June.

But broader risk-off flows in US equities area also weighing broadly on cryptos but as Bloomberg notes, The Group of 20 finance ministers and central bankers are set to sound the alarm about cryptocurrencies when they gather next week in Buenos Aires.

A draft communique calls for monitoring them to safeguard financial stability.

As it seems, as GoldTelegraph notes, central banks can no longer dismiss cryptocurrencies.

Central banks have been very dismissive of cryptocurrencies. For one, cryptocurrencies are the very antithesis of what a central banks does, which is to regulate money. In addition, central banks are concerned with the little security that digital funds provide. In January 2018 we rep
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