G20 Summit: What Should Crypto Community Expect?

Participants' names and dates of cryptocurrency-related meetings at G20 Summit unveiled
16 March 2018   596

The G20 summit, to be held next week in Argentina, will include two discussions on the topic of cryptocurrency. Participants of the meeting intend to develop a "common response" to the issue of regulating digital assets. This is reported by CoinDesk.

The first meeting will be held on Monday. Among others, the Minister of Finance of Argentina, Nicola Duchovny, and the Secretary General of the Organization for Economic Cooperation and Development (OECD), Jose Angel Gurria, will attend. The second meeting will be held on Tuesday.

The agenda and the main issues of the discussions is not called. According to the information from the published document, they will be connected with the influence of the crypto currency and the possibilities for applying the underlying technology.

The issue is an important item on the meeting agenda; delegates will consider a common response that would mitigate the risks without discouraging innovation.

G20 Summit Public Document

 The document also notes that the blockchain "has the potential to spread financial services." At the same time, its drafters stress "it is important to analyze its implications to financial stability, tax evasion and financial illegal activities."

The discussion on the issue of crypto-currencies at the G20 summit was previously called for by representatives of the United States, Germany, France and Japan.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   53

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.