A senior official from the Bank of Canada said that the number of Canadians holding crypto assets is growing rapidly and efforts to regulate the industry need to start keeping pace.
Senior Vice President of the Bank of Canada Carolyn Rogers, Thursday, June 9 day Reutersin a statement to crypto- that the money market is growing extremely fast said and must be regulated before it grows further argued.
Rogerspeople who see an opportunity in crypto assets to make a profit. Worried about not understanding the risks expressed.
As with any asset whose price is rising for quick gains, people see an opportunity in crypto. Our concern is that they don’t understand the risks. They may not even realize that this is not a regulated space.
Rogers also industry needs to be regulated however the hard part is figuring out how to do it told.
Crypto assets are a bit like banking assets and a bit like capital markets. One of the challenges with regulation is figuring out how they fit the current regime, or how we can adjust them to fit the regime if they don’t.
Bank of Canada In a report released this week, 2020 at the beginning of the year 200 billion dollars value of the global cryptocurrency market 2021 at its peak 3 trillion dollarsHe gave place to reach a. According to the report Bitcoin (BTC) owner Canadians ratio to total population 2020 in the year 5%‘ken 2021 doubling in the 13%rose to .