How does ISO 20022 affect the price of cryptocurrencies?

3 answers

• Dec 16, 2021 · 3 years ago
  The implementation of ISO 20022 can have both positive and negative effects on the price of cryptocurrencies. On one hand, the standardization and increased efficiency brought by ISO 20022 can enhance the overall trust and adoption of cryptocurrencies, leading to an increase in demand and subsequently driving up their prices. On the other hand, the increased transparency and regulatory compliance that ISO 20022 brings may also lead to stricter regulations and oversight, which could potentially dampen the speculative nature of cryptocurrencies and result in a decrease in their prices.
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• Dec 16, 2021 · 3 years ago
  ISO 20022 is a global standard for financial messaging that aims to improve interoperability and data exchange between financial institutions. While it may not directly impact the price of cryptocurrencies, it can indirectly influence their value. The adoption of ISO 20022 can enhance the efficiency and reliability of cross-border transactions involving cryptocurrencies, making them more attractive to institutional investors and increasing their overall liquidity. This increased liquidity can contribute to price stability and potentially drive up the value of cryptocurrencies.
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• Dec 16, 2021 · 3 years ago
  As a representative of BYDFi, a digital currency exchange, I can say that the implementation of ISO 20022 has the potential to significantly impact the price of cryptocurrencies. The standardization and improved data exchange facilitated by ISO 20022 can enhance the transparency and trustworthiness of cryptocurrencies, attracting more investors and driving up their prices. Additionally, the increased efficiency and interoperability brought by ISO 20022 can make cryptocurrencies more accessible and user-friendly, further contributing to their value.
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