Bank of International Settlements to Approach G20 Members

The cryptocurrency market has always been the subject of speculation and the concept of trust has been very difficult to establish. This has forced many institutions within the space to work together and come up with solutions.

According to recent reports, the Bank of International Settlements [ BIS ] is planning to submit a Cryptocurrency Roadmap to the G20 to lower cross-border transaction costs.

During the weekend this decision was announced with the bank saying it was high time institutions took a proper look at the crypto industry. Today, cross-border payment systems are operating in a slow and cumbersome manner and companies like Ripple were planning to change that.

This is the first time that such a large group of world leaders will be subject to developments in the cryptocurrency space and how to deal with them.

The Bank of International Settlements has urged members of the G20 to get behind its plan to reduce growing transaction costs in a faltering economy. High costs, low…