Central bank of England getting ready to regulate crypto as it opposes risk to the country's financial stability
As the regulator previously noticed, the rapid growth and development of the industry is a key factor in its regulation as it may bring more risks to the financial stability of the British economy in the future if they will leave it unregulated.
As the Financial Policy Committee noted, cryptocurrency assets may become a way of avoiding various limitations put on certain citizens, and even the existence of a chance puts the entire economy at risk. This is why the regulator aims to create effective public policy frameworks for the further integration ofEthereum, Bitcoin and other cryptocurrencies mostly remain in the"gray zone" as they remain unregulated but not illegal to use.
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Bank of England outlines framework for regulating cryptoThe BOE will focus on monitoring risks to systemic financial institutions and core financial markets.
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