Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, the International Monetary Fund financial stability report does not see digital assets as a threat to financial stability while highlighting its potential benefits.
The International Monetary Fund reiterated the view that digital assets do not pose a significant risk to the global financial system. The report highlights the uncorrelated nature to traditional assets but cautions the collapse of this dynamic should bring financial products like ETFs into the market.
A report released by Hong Kong’s Financial Services and Treasury board on money laundering and terrorist financing indicates digital assets are not a significant threat. The data collected by the government body does not see meaningful use of Bitcoin domestically. In addition, monitoring by the HK Police Force does not indicate organized crime dealing in digital assets.
The implementation of sharding would tackle the difficulties related to scaling the network. The proof of concept was released to allow developers to build and test various configurations. Specifications have not yet been agreed upon for the final implementation.
In an interview with TenX, the Litecoin founder mentioned his involvement with the project may keep decision making power centralized and views himself stepping away in the long run. He drew comparisons to Bitcoin’s greater decentralization from its anonymous creator.Around the network
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