ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

G20 Summit Attendees Largely Agree That Cryptocurrencies Are Assets




Financial authorities currently attending the 2018 G20 Buenos Aires summit are reportedly nearing a consensus on the position that cryptocurrencies are assets.

Representatives from 20 countries who are currently gathered in Buenos Aires for a G20 summit are approaching a consensus that the digital tokens commonly referred to as cryptocurrencies are assets rather than currencies, according to reports. G20 ministers are slated to discuss digital currencies this afternoon.

A draft of a G20 communique apparently relates that this is because they "lack the traits of sovereign currencies." If formally defined as assets, cryptocurrencies could be subject to capital gains taxation in other G20 countries, as they already are in the United States.

Referring to the tokens, Dutch central bank president Klaas Knot reportedly said:

"Whether you call it crypto assets, crypto tokens – definitely not cryptocurrencies – let that be clear a message as far as I'm concerned, I don't think any of these cryptos satisfy the three roles money plays in an economy."

In February 2018, Bank of England governor Mark Carney said that cryptocurrencies have "failed" to behave as currencies because they are not an effective "store of value" and because "nobody uses [them] as a medium of exchange."

In a notable counterpoint to this narrative, FINMA, a financial regulatory body serving Switzerland (not a G20 member), issued guidelines in February that described four different genres of cryptocurrencies: payment tokens, utility tokens, asset tokens, and hybrid tokens, which bear characteristics of several token types.

In a letter to G20 finance leaders that was published on March 18, Carney, writing in the capacity of Financial Stability Board chair, said that cryptocurrencies currently pose no risks to financial stability but that they might someday. 

Adam Reese

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam holds value in Ether, Bitcoin, and Monero.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest G20, G20 summit or other Ethereum world news.