Bank of England Governor Andrew Bailey reiterated his rhetoric after the Financial Policy Committee meeting, warning regulated institutions and investors about cryptocurrencies.
Andrew Bailey, on the work that existing banks and other regulated financial institutions in the country have done and will do regarding cryptocurrencies until regulations and regulations come be particularly careful said it should.
In his statements after the committee meeting, Bailey said that future regulations on cryptoassets will balance risk management expressed.
In the description:
“The Financial Policy Committee, until regulation on crypto assets, financial institutions should be cautious and prudent in any action taken in this regard.”
said.
Stating that although the British Central Bank has not yet introduced a regulation for crypto assets, financial institutions have already started to offer services for cryptocurrencies, Bailey also stated that the crypto money market continues to grow rapidly and that $2.6 trillion He mentioned that a market value has been reached.
Bailey: “Today (cryptocurrencies) is not a risk to financial systems, but it has all the characteristics to be a risk in the future.” made statements.
Thinking that Bitcoin and other cryptocurrencies do not have the characteristics and qualities of a fiat money, Bailey also thinks that cryptocurrencies do not have a value. In his speech, he had previously stated “Those who invest in cryptocurrencies can lose all their investments” repeated his words.