Geemengde Berichten als Deputy Governor of the Bank of England zegt Krypto gene bedraiging

John Cunliffe, deputy governor of the Bank of England (BoE), dismissed the idea that cryptocurrency is a threat to macro-financial stability.

Meanwhile, global regulators have decisively hit the crypto sector in recent weeks, with Binance feeling the weight of power. Not to mention the actions of the Chinese authorities, which changed the situation significantly in two short months.

Moreover, US authorities are increasingly talking about the risks of stable coins, so it’s hard to know what to do with the situation.

Crypto is not a threat to financial stability… still
Speaking on Wednesday, Cuncliffe spoke of the “conspicuous” crypto tree taking place this year. It also does not pose a risk to financial stability at its current level.

“The speculative boom in crypto is very pronounced, but I don’t think it has exceeded the risk limit for financial stability.”

In May, before the FUD-induced downgrade, Boe Governor Andrew Bailey was not as compliant as Cunliffe. Instead, Bailey easily pointed out that cryptocurrencies have no intrinsic value and that anyone who invests should be prepared to lose all their money.

Continuing, Cunliffe said crypto speculation was currently limited to retail investors, implying that the Bank of England was aware of the investor protection issue.

However, due to its relatively low overall market capitalization and lack of a deep connection to the old system, Cunliffe believes cryptography poses a risk to financial stability.

But if more corporate investment and perhaps deepening those ties, as with US-based BITCOIN-based ETF products, is needed, then he will reconsider his position.

“If we start to see these connections develop, if we start to see retail trade becoming more and more wholesale, and if we see the financial sector being more at risk, then you can start to think about risk in that sense.”

However, Cuncliffe made it clear that the classification and treatment of stable coins was d

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