Crypto is getting closer to posing a risk to financial stability : Bank of England Deputy Governor

  • According to Sir Jon Cunliffe, the deputy governor for Financial Stability at the Bank of England, crypto may pose an imminent threat to the traditional financial system.
  • While Cunliffe warned of integrating volatile crypto-assets into the mainstream financial system, he dismissed adjacent concerns pertaining to the rise of stablecoins.
  • On Nov. 9 Britain’s central bank and Treasury released a joint statement outlining coming research into a central bank digital currency for the United Kingdom market.
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