Today I read information that a G7 report on cryptocurrency was published.
The authors of this document stated that bitcoin and other cryptocurrencies are not reliable means of payment and seem dangerous for storage.
Nevertheless, the report refers to the fact that stable coins are the exception and that such coins have real potential for everyday use.
The team that conducted the research turned up that not a single global project of stable coins can be legally used until the relevant laws are adopted for control, regulation, etc.
But the document also mentions that Bitcoin and other cryptocurrencies are still a highly speculative asset class.
Guys, I ask you to comment on this matter. After all, many are interested in the question of how exactly the G7 report will affect the entire cryptocurrency market.
I am not disturbed by this news. If we will going to look at the reason or the possible outcome of this issue, they are focusing on the development and adoption of people to stable coins, why? Because they want the fiat conversion from own currency to stable coins, because basically, it is the most suitable crypto for conversion. Then why am I not afraid? This is still a build up for market adoption in cryptospace, wherein people will have their knowledge how good cryptos are. In any case that they discover bitcoin asset, it will surely catch their attention to buy and accumulate more. As a result, huge market price awaits us through the stable coin as the medium.