Regulators scrutinise Cryptos

Posted on March 9, 2018 by Editor

Chairman of the global Financial Stability Board and Governor of the Bank of England, Mark Carney, was just one of the leading regulators around the world to call for new measures to reign in cryptocurrencies this week.

Mr Carney warned that a range of crypto assets are exhibiting the “classic hallmarks of bubbles”. In a speech in London last Friday the Governor described a range of concerns that regulators have in this field. While generally encouraging of the opportunities that the underlying blockchain technology offers within financial services, Mr Carney criticised the uninformed nature of much crypto investment. He also highlighted the potential for money laundering and other risks. He called for the currently unregulated exchanges in this area to be pulled into the regulatory net.

Read more here.

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