Cryptocurrency exchanges to face regulatory clampdown, says Bank of England's Mark Carney

in esteem •  7 years ago 

22
NewsBusinessBusiness News
Cryptocurrency exchanges to face regulatory clampdown, says Bank of England's Mark Carney

'The time has come to hold the crypto-asset ecosystem to the same standards as the rest of the financial system,' the Bank of England Governor said

Ben Chu Economics Editor @Benchu_ a day ago5 comments

22

Click to follow
The Independent Online

Mr Carney said that, in his view, cryptocurrencies do not currently pose risks to financial security
POPULAR VIDEOS

The Emoji Movie named 'worst picture' at the Razzies

US 'bomb cyclone' kills six and cuts power to 2m homes
Cryptocurrency exchanges will be policed more rigorously by regulators and the currencies themselves could present a future risk to financial stability, the Bank of England Governor has said.

Addressing the Scottish Economics Conference in Edinburgh via a video link, Mark Carney promised a clampdown on any use of cryptocurrency exchanges for money laundering and terrorism-financing.

Unlike a traditional digital bank transfer, it is impossible to trace the ownership of cryptocurrencies such as bitcoin, making them attractive to criminals and tax evaders

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!