News G20 Want Regulators To Monitor Crypto Risks

G20 Want Regulators To Monitor Crypto Risks

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G20 finance ministers and central bank governors have requested that the Financial Stability Board (FSB), as well as global standard-setting organizations, work together to monitor risks around crypto assets.

“While crypto assets do not pose a threat to global financial stability at this point, we remain vigilant to risks, including those related to consumer and investor protection, anti-money laundering (AML) and countering the financing of terrorism (CFT),” said the joint statement, according to Coin Telegraph.

In other news, riders at London’s Bond Street station might have believed they hit the lottery when a bitcoin ATM started spitting out money.

The incident happened when a customer was intentionally withdrawing money and the machine started tossing out the money.

“As you can see, there is a bag in the front of ATM. However, our ATMs support large transactions — and it is fair to say that a larger, redesigned presenter would be a good solution. Our customer was not particularly careful, although the ATM should be redesigned to cope better with small denominations used in the U.K.,” said Adam Gramowski, owner and CEO of the Poland-based bitcoin ATM company, according to CCN.

Polish crypto exchange Coinroom abruptly closed down in April, taking multiple customer accounts worth up to $15,000 and no way to contact the founders.

“Coinroom registered as a business in 2016 and a year later opened its website. Clients could deposit, buy, and sell cryptocurrencies. They could also exchange cryptocurrency for fiat,” wrote Marcin Łukasik on Polish news site Money.pl, according to CoinDesk. “In April users received an email that told them that their accounts would be closed. They had one day to get their cash out. In order to do this they had to contact the exchange admins directly. Everything was laid out in the terms of service the users signed.”

And three years after being stolen, bitcoins previously held in the 2016 Bitfinex hack have been spotted on the blockchain.

CoinDesk reported that the transactions on Friday, June 7 showed $1.37 million moved from a wallet that had previously held funds in the hack, which cost the exchange $60 million. It is still unknown who is responsible for the hack.



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