The bankofengland Financial Stability Committee called for enhanced regulation to mitigate against the risks that crypto assets might pose to the wider financial system. camomileshumba reports.
The Bank of England’s Financial Policy Committee called for “enhanced regulation” of the crypto asset market to mitigate against potential risks.
The collapse of Terra’s stablecoin in May and crypto lenders including Celsius Network and Babel Finance freezing withdrawals last month have prompted regulators to focus attention on the digital asset industry. That’s not to mention the more than $2 trillion of market cap being wiped out over a period of months.
The Treasury has already announced that the Bank of England is looking into bringing systemic stablecoins into its
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