Many people were worried that the G20 summit would bring the major governments of the world together where they would spend time talking about cryptocurrency. This, of course, would almost certainly lead to further regulations and other government involvement in the industry, which is just one of many reasons we’ve seen the markets so bearish in the past several weeks.
According to a recently report, however, the Chairman of the Financial Stability Board, Mark Carney, sent a letter to the finance ministers and central bank governors who would be at the G20, recommending a ‘wait and see’ approach to crypto.
He apparently believes that cryptocurrencies are only a very small component of the overall economy, and at this point, don’t require any type of international regulation.
This is extremely good news for the market, as can be seen by the great gains seen by Bitcoin and most alt-coins.
Ethereum did quite well, boasting around 15% gains, and Ripple did even better with a nearly 19% gain. It also seems that many people are looking to dive back into the alt-market as we see Stellar (XLM) jumping by 35% and Cardano (ADA) shooting up by 32%. These are just some of the highlights of the market.
Of course, this is just a short-term gain and still has a long way to go before anyone can call it a bull market. Having a lot of green on the charts, however, is certainly a welcomed site for many.
