U.K. Banks Cautioned to Be Conservative with Cryptocurrencies

U.K. Banks Cautioned to Be Conservative with Cryptocurrencies
фото показано с : bitcoints.com

2018-6-29 21:16

The Bank of England has warned U.K. lenders to study cryptocurrencies before doing business in the space.
While acknowledging the benefits of the underlying distributed ledger, the deputy governor believes the high price volatility and relative illiquidity of cryptocurrencies are good enough reasons why financial institutions need to be careful when dealing with crypto assets.
The letter went on to explain the steps banks should take to lower any possible risk from trading in crypto assets.
Classification of cryptocurrencies has been a problem in the U.K., as with most parts of the world.
Carney, who softened his tone some weeks after, advocated for regulating cryptocurrencies not banning “crypto-assets outright.” Authorities should “be careful not to stifle innovations which could in the future improve financial stability,” he said.

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Источник: bitcoints.com

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Фото:

U.K. Banks Warned to Be Careful With Cryptocurrencies

The Bank of England has warned U. K. lenders to study cryptocurrencies before doing business in the space. In a letter sent out to the financial institutions in the country yesterday, the Bank of England Deputy Governor Sam Woods warned financial companies to take appropriate steps to protect themselves against "exposure to crypto-assets" which he believes are susceptible to "fraud and manipulation, as well as money-laundering and terrorist financing risks.

2018-6-29 18:17


Фото:

BoE: Cryptocurrencies Pose ‘Reputational Risks’

The Bank of England has reportedly cautioned City bosses away from implementing cryptocurrencies into their business plans — citing all the usual reasons one has probably come to expect. ‘Reputational Risks’ “In their short history, crypto-assets have exhibited high price volatility and relative illiquidity,” wrote Bank of England Deputy Governor Sam Woods in a letter to the chief executives of banks, insurers, and fund managers — as reported by The Telegraph, adding: Crypto-assets also raise concerns Read More The post BoE: Cryptocurrencies Pose ‘Reputational Risks’ appeared first on Bitcoinist.com.

2018-6-29 05:00


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