The Bank of England Financial Policy Committee has stated that comprehensive regulation is imperative for cryptocurrencies, citing the $2 trillion market cap loss.
Bank of England Financial Policy Committeein crypto asset markets to reduce potential risks He called for ‘comprehensive regulation’. Drawing attention to the chaos experienced in the past months, the committee said that crypto assets are still extensive financial crises able to create not as integrated for now that other markets are safe however before the integration is complete indicated that action must be taken first.
TreasureSpecial Administrative Regime of the Bank of England systemic stablecoins He had stated in his previous statements that he was considering bringing it. In its report, the committee:
Creating a stablecoin backed by deposits in a commercial bank would create an undesirable financial stability risk.
made statements.
Britain’s financial sector regulator, Financial Conduct Authority (FCA)while creating new rules for the industry Terra’s downfall said he would consider it.
Experts on crypto treasury and central bank regulation of disagreements can slow down the output they said.