Hello dear and loyal readers, back to all of you to continue sharing updated information on the events of the cryptocurrency market, this time about the true fact that the Bankers are opening fire and targeting the cryptocurrency market.
A senior official at the Bank of England's central bank on Wednesday called on monetary and regulatory authorities in countries where Bitcoin and other cryptocurrencies circulate to apply existing regulations to the emerging market.
In this banker's opinion, they have to do so before there are alleged systemic consequences among users and creditors of these assets, hence, in a speech given in London, Jon Cunliffe, Deputy Governor for Financial Stability at the Bank of England, suggested that the crypto market does not have the size to put the traditional financial system at risk.
But he admitted that it is a corner that has been growing very rapidly, and has gained more interconnection with conventional finance, it is good to clarify that the "corner" referred to by Cunliffe is an ecosystem in constant expansion, which is gaining more followers and users around the world every day.
It has been so much so that BTC already has a presence on Wall Street and even in economies of countries around the world, no meeting of the international regulatory or central banking community takes place without a discussion of some aspect of the financial products, services and technologies that have come to be labeled 'crypto,' he recalled.
The truth is, these statements are a far cry from his own words in July, when he said that the bear market would slow down the adoption of the ecosystem.
SOURCES CONSULTED
Bankofengland. Innovation in post trade services - opportunities, risks and the role for the public sector − speech by Sir Jon Cunliffe. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Bloomberg
