Crypto-assets pose risks to global banks, warns Basel Committee

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Crypto-assets pose risks to global banks, warns Basel Committee
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The growth in crypto-assets such as Bitcoin pose a threat to banks and global fi...

FILE PHOTO: Virtual currency Bitcoin tokens are seen in this illustration picture, December 8, 2017. REUTERS/Dado Ruvic/Illustration/File Photo

Crypto-assets are not a reliable substitute for money and are unsafe to rely on as a medium of exchange or store of value, the global banking watchdog said in a statement on Wednesday.

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