Cryptocurrencies do not yet pose a serious risk to the financial stability of the UK, but as their influence grows, the regulatory framework will need to be tightened. This is stated in the report of the Bank of England.
“Regulation must evolve fast enough, both domestically and globally, to eliminate the risks that they [криптовалюты] may be created in the future, ”the experts noted.
Representatives of the regulator said they intend to pay “close attention” to developments, including “the relationship between cryptocurrencies and the UK financial system.” So the Central Bank intends to ensure resilience to potential systemic risks.
“The FPC believes that financial institutions should exercise caution and prudence in any acceptance of these assets,” the document says.
Recall that the head of the Bank of England does not consider Bitcoin as money.
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