Coinscreed
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos
Advertise
No Result
View All Result
  • bitcoinBitcoin(BTC)
    $30,014.00-1.27% 24H
    BITCOIN
    24H : -1.27%
    Volume : $24,868,779,368.00
    Marketcap : $572,848,736,110.00
  • ethereumEthereum(ETH)
    $2,045.07-1.49% 24H
    ETHEREUM
    24H : -1.49%
    Volume : $16,133,261,807.00
    Marketcap : $247,598,560,732.00
  • binancecoinBNB(BNB)
    $300.64-1.63% 24H
    BNB
    24H : -1.63%
    Volume : $1,473,465,255.00
    Marketcap : $50,661,134,810.00
  • rippleXRP(XRP)
    $0.428-1.45% 24H
    XRP
    24H : -1.45%
    Volume : $2,148,175,282.00
    Marketcap : $20,736,812,036.00
  • cardanoCardano(ADA)
    $0.564-2.33% 24H
    CARDANO
    24H : -2.33%
    Volume : $796,185,671.00
    Marketcap : $19,169,623,523.00
  • terra-lunaTerra(LUNA)
    $0.000196.75% 24H
    TERRA
    24H : 6.75%
    Volume : $753,964,434.00
    Marketcap : $1,204,537,372.00
Coinscreed
No Result
View All Result
homerun token
Home Cryptocurrencies

Crypto is not a ‘financial stability risk’-Bank of England’s Deputy Governor

LollyCrypt by LollyCrypt
10 months ago
in Cryptocurrencies
Reading Time: 2 mins read
A A
Share on FacebookShare on Twitter
Despite the wonders associated with cryptocurrencies, regulators all over the world have warned about risks involved in the investment, the BoE’s deputy governor has also sent out a warning to citizens of England.
Crypto is not a ‘financial stability risk’-Bank of England's Deputy Governor

Deputy Governor Jon Cunliffe of the Bank of England commented on crypto’s market position, stating that it is not a financial stability issue because it does not yet represent relevant competition to established markets.

He agreed with and praised crypto’s rapid growth, but he underlined that it cannot compete with the regulated market and that it is not a threat to him.

SuggestedArticles

South Korean Legislature Mulls New Licensing System For Crypto

South Korean Legislature Mulls New Regulation For Cryptocurrency

3 mins ago
Crypto Fear & Greed Index Hits Lowest Level Since March 2020

Crypto Fear & Greed Index Hits Lowest Level Since March 2020

16 hours ago

“The speculative boom in crypto is very noticeable but I don’t think it’s crossed the boundary into financial stability risk,” Cunliffe told CNBC.

Due to the volatile nature of cryptocurrency, excessive outputs are common. The ultimate product line will either head north or south.

The crypto market has risen as high as $2.5 trillion in the first quarter of 2021 but has also experienced unanticipated losses of almost $1 trillion in value since May. Bitcoin is currently trading at $32,500, down roughly 50% from its April high of near $65K.

Cunliffe, on the other hand, said that cryptocurrency’s appeal is unrelated to traditional markets because it is limited to retail investors and institutions have yet to express a collective interest.

“There are issues of investor protection here. These are highly speculative assets…But they’re not of the size that they would cause financial stability risk, and they’re not connected deeply into the standing financial system…Were we to start to see those links develop, were we to start to see it move out of retail more into wholesale and see the financial sector more exposed, then I think you might start to think about risk in that sense,”, Cunliffe told CNBC.

Tags: BoEcryptoDeputy GovernorFinancial stability risk

BTC365

Coinscreed

Copyright © 2022 Coinscreed

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Crypto Price Charts

Follow Us

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • DeFi
    • Blockchain News
  • Market Analysis
  • NFT
  • Metaverse
  • Cryptocurrencies
  • Learn
    • Bitcoin 101
    • Ethereum 101
    • Binance Smart Chain
    • DeFi 101
    • Ripple 101
    • ICO 101
    • Trading 101
    • Dogecoin 101
    • Lightening Network
    • NFT 101
  • Crypto How Tos

Copyright © 2022 Coinscreed

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.