Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Reading: Bank of England Calls for Rigorous Crypto Regulation, What’s next for Cryptocurrencies?
Share
  • bitcoinBitcoin(BTC)$27,694.00
  • ethereumEthereum(ETH)$1,764.94
  • tetherTether(USDT)$1.01
  • binancecoinBNB(BNB)$325.93
  • usd-coinUSD Coin(USDC)$1.01
  • rippleXRP(XRP)$0.449259
  • cardanoCardano(ADA)$0.365177
  • dogecoinDogecoin(DOGE)$0.075652
  • staked-etherLido Staked Ether(STETH)$1,753.51
  • matic-networkPolygon(MATIC)$1.11
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > News > Bank of England Calls for Rigorous Crypto Regulation, What’s next for Cryptocurrencies?
News

Bank of England Calls for Rigorous Crypto Regulation, What’s next for Cryptocurrencies?

Krutika Adani
Last updated: 2023/03/07 at 10:30 AM
Krutika Adani  - Social Media Head Published July 12, 2022 March 7, 2023
Share
Bank of England Calls for Enhanced Crypto Regulation

Jon Cunliffe, Bank of England’s (BoE) deputy governor for financial stability, has recently urged regulating the Crypto sector to protect investors from unrecoverable losses. 

In a press conference, the governor called for enhanced regulation and referred to the recent downfall of the Terra ecosystem.

He recommended that similar to conventional financial systems; there should be some rules to combat risks within the crypto sector and safeguard investors. 

He further stated,

“For me, it underlines the fact that we need 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.”

Cunliffe also highlighted the real potential of Cryptocurrencies in the financial system. He also suggested that crypto regulations need not be fundamentally different from traditional finance.

However, they should be implemented differently, keeping in mind the underlying technology of the cryptocurrencies.

In addition, BoE Governor Andrew Bailey also called for regulation for borderless or cross-border trading of cryptocurrencies. He said that even if “unbacked crypto” does hold any intrinsic value, it can be better viewed as an investment. However, the governor believes 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 by Her Majesty’s Revenue and Customs (HMRC) determined that an average crypto asset holder in Great Britain considers crypto a “fun investment.”

Over 5,916 citizens participated in the survey. The survey also determined that 10% of the respondents owned crypto at some point, while over 55% never sold any.

The survey also found that 52% of crypto investors have up to $1,200 of 1,000 Great British pounds.

Moreover, following the terra collapse,  U.K.’s financial regulator and its finance ministry have decided to create new rules for cryptocurrencies.

You Might Also Like

Fate of TRX Amid SEC Crackdown on Tron

USDD Crash, after SEC Opens Investigations on Justin Sun

Arbitrum Airdrop to go Live Today, Know All About It

Bitcoin Price Possibly Targeting New ATH this Cycle?

Tether (USDT) Stability Makes it the Safest Stablecoin

TAGGED: Altcoin, Bitcoin
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article metaverse tokens Metaverse Tokens Decentraland, Enjin Coin, ApeCoin & Axie Infinity Drop Amid Broader Crypto Market Correction
Next Article VOC, Voice of Crypto, memecoins, dogecoin, shiba inu Major Memecoins, Dogecoin, Shiba Inu & Others Show $600M in Trade Volume in 24Hrs
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Voice of Crypto Tron TRX
Fate of TRX Amid SEC Crackdown on Tron
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?