Bitcoin rises above $9,000 After Positive G-20 Cryptocurrency Meeting




ATM for digital currency
ATM for digital currency in Hong Kong

Bitcoin prices recovered above $9,000 after finance ministers took a more hands-off approach to cryptocurrencies at a G-20 meeting in Argentina Tuesday.

The spirit of the discussion was very productive, and I agree that everybody left very pleased," government of the Central Bank of Argentina, Federico Sturzenegger, said Tuesday during a press conference. "It was a very good meeting."


Cryptocurrency discussions happened during a closed-door session earlier Tuesday, a spokesperson from the G-20 told CNBC.

Bitcoin rose more than 4.5 percent above $9,000 for the first time in a week, according to Blockchain's bitcoin price Charts. The cryptocurrency was trading above 4.8 percent near $9,024 as of 8:45 a.m. on Wednesday.

Bitcoin performance over the last week



Italy's central bank leader went a step further and told reporters after the meeting the cryptocurrencies pose risks but should not be completely banned, according to Reuters.

My understanding is that there was an acceptance of continuing to work also on the stability side with the idea that this doesn't imply barring it, Ignazio Visco, the governor of the Bank of Italy, told reporters on the sidelines of the meeting, according to Teuters.

Discussions inside the room "devoted a lot of time " to crypto assets and the group agreed regulation needs to keep up with the technology's fast pace, Argentina's Sturzenegger said.

The Argentine central banker outline a summer deadline for G-20 members to have "specific recommendations on what to do" and said task forces are working to submit proposals by July.


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