• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Crypto needs regulation to mitigate risks, says Bank of England exec

Jon Hartney by Jon Hartney
July 11, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Traditional markets have regulations to protect investors from unrecoverable losses, a Bank of England executive recently noted.

Bank of England (BoE) deputy governor for financial stability, Jon Cunliffe, recommended forming a set of regulations — similar to conventional financial systems — to tackle risks within the crypto ecosystem while improving investor confidence. 

Speaking at a press conference, Cunliffe highlighted the recent downfall of the Terra ecosystem, pointing out that cryptocurrencies that fail to maintain their value induce stress across crypto markets. He compared his idea for a crypto regulatory framework to similar instances in traditional finance wherein regulations shelter investors from unrecoverable losses, adding:

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

“For me, it underlines the fact that we need now to bring in the regulatory system that will manage those risks in the crypto world in the same way that we manage them in the conventional world.”

While acknowledging crypto’s “real potential for use in the financial system,” Cunliffe stated that regulations for crypto need not be fundamentally different from traditional finance. However, it may need to be applied differently while considering the underlying technology powering  cryptocurrencies.

BoE Governor Andrew Bailey stressed the need for involvement of international bodies in borderless or cross-border trading of cryptocurrencies. Bailey said that “unbacked crypto” does not have an intrinsic value but can be better viewed as an investment. On the other hand, the governor believed that stablecoins are better suited as a means of payment, adding:

“I think they (cryptocurrencies and stablecoins) need a different lens, and that’s what we’re doing in terms of how we approach it.”

A recent survey of 5,916 citizens conducted by Her Majesty’s Revenue and Customs (HMRC) revealed that an average crypto asset holder in Great Britain considers crypto to be a “fun investment.”

Related: Majority of British crypto owners revealed to be hodlers: Survey

The report showed that 10% of the respondents hold or have held crypto at some point in time, with 55% never having sold any. It was also found that 52% of crypto investors have holdings of up to 1,000 pounds ($1,200).

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$22,902.00-0.66%
  • ethereumEthereum(ETH)$1,575.53-0.10%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.09%
  • usd-coinUSD Coin(USDC)$1.000.08%
  • binancecoinBNB(BNB)$310.411.34%
  • rippleXRP(XRP)$0.4026020.53%
  • Binance USDBinance USD(BUSD)$1.000.22%
  • cardanoCardano(ADA)$0.375272-1.22%
  • dogecoinDogecoin(DOGE)$0.0927317.86%
  • matic-networkPolygon(MATIC)$1.09-1.70%
  • OKBOKB(OKB)$37.480.93%
  • SolanaSolana(SOL)$23.79-1.30%
  • Lido Staked EtherLido Staked Ether(STETH)$1,569.17-0.33%
  • polkadotPolkadot(DOT)$6.21-0.70%
  • Shiba InuShiba Inu(SHIB)$0.0000121.15%
  • litecoinLitecoin(LTC)$93.600.51%
  • AvalancheAvalanche(AVAX)$19.52-2.24%
  • tronTRON(TRX)$0.0626351.00%
  • daiDai(DAI)$1.00-0.11%
  • UniswapUniswap(UNI)$6.51-1.37%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,847.00-0.85%
  • cosmosCosmos Hub(ATOM)$13.160.00%
  • chainlinkChainlink(LINK)$6.93-0.91%
  • ToncoinToncoin(TON)$2.28-1.17%
  • leo-tokenLEO Token(LEO)$3.52-0.83%
  • moneroMonero(XMR)$174.38-4.82%
  • ethereum-classicEthereum Classic(ETC)$21.48-1.26%
  • AptosAptos(APT)$16.58-5.72%
  • bitcoin-cashBitcoin Cash(BCH)$132.750.92%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.090174-1.12%
  • ApeCoinApeCoin(APE)$5.81-2.87%
  • QuantQuant(QNT)$143.35-0.47%
  • CronosCronos(CRO)$0.078237-0.87%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.31-2.73%
  • filecoinFilecoin(FIL)$5.06-1.11%
  • Lido DAOLido DAO(LDO)$2.07-1.77%
  • algorandAlgorand(ALGO)$0.237917-2.92%
  • vechainVeChain(VET)$0.023118-0.68%
  • HederaHedera(HBAR)$0.064581-1.14%
  • Internet ComputerInternet Computer(ICP)$5.72-2.01%
  • decentralandDecentraland(MANA)$0.74-1.49%
  • Axie InfinityAxie Infinity(AXS)$10.75-3.99%
  • FantomFantom(FTM)$0.4752243.05%
  • AaveAave(AAVE)$81.21-1.05%
  • eosEOS(EOS)$1.05-1.73%
  • The SandboxThe Sandbox(SAND)$0.72-3.40%
  • MultiversXMultiversX(EGLD)$42.73-0.67%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.0001753.96%
  • FlowFlow(FLOW)$1.00-1.60%
  • FraxFrax(FRAX)$1.000.23%
  • theta-tokenTheta Network(THETA)$1.01-2.71%
  • tezosTezos(XTZ)$1.07-2.04%
  • paxos-standardPax Dollar(USDP)$1.001.29%
  • true-usdTrueUSD(TUSD)$1.000.05%
  • huobi-tokenHuobi(HT)$5.100.46%
  • bitcoin-cash-svBitcoin SV(BSV)$42.53-1.54%
  • kucoin-sharesKuCoin(KCS)$8.210.22%
  • The GraphThe Graph(GRT)$0.088284-1.01%
  • Frax ShareFrax Share(FXS)$10.291.31%
  • Curve DAOCurve DAO(CRV)$1.00-2.38%
  • Rocket PoolRocket Pool(RPL)$37.74-0.18%
  • USDDUSDD(USDD)$0.99-0.03%
  • havvenSynthetix Network(SNX)$2.28-0.43%
  • ChilizChiliz(CHZ)$0.132219-2.56%
  • eCasheCash(XEC)$0.0000360.79%
  • Trust WalletTrust Wallet(TWT)$1.642.07%
  • BitTorrentBitTorrent(BTT)$0.000001-3.37%
  • dashDash(DASH)$59.930.22%
  • PancakeSwapPancakeSwap(CAKE)$4.000.95%
  • Mina ProtocolMina Protocol(MINA)$0.80-2.83%
  • GateGate(GT)$4.422.26%
  • KlaytnKlaytn(KLAY)$0.201610-1.32%
  • iotaIOTA(MIOTA)$0.222240-2.29%
  • cUSDCcUSDC(CUSDC)$0.0227540.14%
  • BitDAOBitDAO(BIT)$0.51-7.85%
  • zcashZcash(ZEC)$45.330.91%
  • makerMaker(MKR)$640.74-0.29%
  • gemini-dollarGemini Dollar(GUSD)$1.000.30%
  • neoNEO(NEO)$8.11-1.21%
  • cDAIcDAI(CDAI)$0.0221570.04%
  • ImmutableXImmutableX(IMX)$0.701.86%
  • OKCOKC(OKT)$30.07-1.47%
  • Tokenize XchangeTokenize Xchange(TKX)$6.620.01%
  • THORChainTHORChain(RUNE)$1.76-2.18%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • RadixRadix(XRD)$0.051808-5.85%
  • PAX GoldPAX Gold(PAXG)$1,881.57-1.34%
  • ArweaveArweave(AR)$10.11-1.82%
  • OsmosisOsmosis(OSMO)$0.96-0.78%
  • GMXGMX(GMX)$56.84-1.47%
  • FlareFlare(FLR)$0.043272-7.20%
  • Tether GoldTether Gold(XAUT)$1,896.13-1.25%
  • nexoNEXO(NEXO)$0.820.48%
  • cETHcETH(CETH)$31.62-0.66%
  • BTSE TokenBTSE Token(BTSE)$2.81-10.35%
  • OptimismOptimism(OP)$2.10-2.06%
  • Convex FinanceConvex Finance(CVX)$5.89-3.11%
  • enjincoinEnjin Coin(ENJ)$0.434341-0.52%