Sam Woods, BoE Deputy Governor responsible for financial supervision, said the range of products and market participants related to crypto-assets has grown quickly.
“In their short history, crypto-assets have exhibited high price volatility and relative illiquidity,” Woods said in a letter to the chief executives of banks and insurers he regulates.
“Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”
The BoE expects firms to inform their usual supervisory contact of any planned crypto-asset exposure or activity on an ad hoc basis, together with an assessment of the risks associated with the intended exposure.
Published in Daily Times, June 29th 2018.
Foreign Minister Abbas Araghchi said on Thursday that Iran will not negotiate under "intimidation" as…
Sri Lanka votes Thursday in a second national election in as many months with a…
In staffing his incoming administration, President-elect Donald Trump has so far veered from the conventional…
Typhoon Usagi slammed into the Philippines' already disaster-ravaged north on Thursday, as authorities rushed to…
Glenn Maxwell's blistering knock, combined with a solid bowling performance, guided Australia to a convincing…
The Pakistan Squash Federation (PSF) in collaboration with Serena Hotels, is organizing Chief of the…
Leave a Comment