Bank of England Head Doesn't Consider Cryptos as a Thread

The statement of Bank of England head had a big impact onto the cryptocurrency market
19 March 2018   1492

Head of Bank of England at G20 Summit

The Financial Stability Board (FSB), which supervises banks and financial networks, refused to create new rules for regulating bitcoin in favor of revising existing ones. According to Reuters, the statement was made in the framework of preparatory meetings before the G20 summit.

According to the chairman of the FSB, the head of the Bank of England, Mark Carney, the authorities need to focus their efforts on filling the gaps in the data exchange that can help to regulate the rapidly developing but still "insignificant" cryptual currency against the global financial market system.

The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time. As its work to fix the fault lines that caused the financial crisis draws to a close, the FSB is increasingly pivoting away from design of new policy initiatives towards dynamic implementation and rigorous evaluation of the effects of the agreed G20 reforms. 
 

Mark Carney

Head, Bank of England

The chairman of the FSB also expressed his belief that his department, even if the leadership was changed, would not develop new standards for regulating crypto-currencies, but would improve existing ones.

As its work to fix the fault lines that caused the financial crisis draws to a close, the FSB is increasingly pivoting away from design of new policy initiatives towards dynamic implementation and rigorous evaluation of the effects of the agreed G20 reforms.
 

Mark Carney

Head, Bank of England

Market Reaction

Meanwhile, the market reacted positively to this statement

Top Ten Cryptocurrencies
Top Ten Cryptocurrencies

In a short time the BTC jumped by $ 1000. Altcoins followed, most of which came out into the green zone.

Total Market Cap
Total Market Cap

Overall marketcap had also jumped from $274B to $318B in a short time.

BNC to Monitor BTC Community's Mood

The system called Twitter Sentiment analyzes over 34M BTC-related Twitter posts each week, using AI to track the mood of the community
22 January 2020   121

Blockchain-based New Zealand-based research firm Brave New Coin (BNC) has unveiled a new system for measuring the mood of the Bitcoin community based on Twitter messages.

According to BNC, the new Twitter Sentiment rating system analyzes over 34 million BTC-related Twitter posts each week. The company uses artificial intelligence (AI) algorithms that look for records containing the words bitcoin, $ BTC and BTC and others.

BNC notes that user sentiment continues to be a “significant” factor in the price and dynamics of digital assets, and a new technique has been developed to track these sentiments. According to the BNC, it took 18 months to launch the Bitcoin Twitter Sentiment. The data obtained is divided into seven categories - Opinion, Technical Information, Inside the Network, Advertising, Bots, Macros and Hacking.

For the week ending January 17, the most common entries were in the Opinion category - their number was 30.42% of all data received. In second place was the category Technical Information, and in third inside the network (includes information on mining and hashrate).

BNC spokeswoman Pierre Ansaldi said that during the first quarter of this year, the company will also launch community sentiment analysis tools for other crypto assets.