Cryptocurrencies pose potential threat to financial stability: SAMA

14/10/2023 Argaam

Cryptocurrencies pose potential threat to financial stability: SAMA

Ayman Al-Sayyari, Governor of the Saudi Central Bank

Cryptocurrencies and their brokers pose a potential threat to financial stability, said Ayman Al-Sayyari, Governor of the Saudi Central Bank, during the meeting of the G20 Finance Ministers and Central Bank Governors.

 

He added that cryptocurrencies need well-coordinated supervision and regulations, noting that the Kingdom supports the relevant roadmap of the International Monetary Fund (IMF) and the Financial Stability Board to address the risks related to cryptocurrencies.

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