Bank of England revealed Cryptocurrency
|
|
Bank of England revealed Cryptocurrency
The deputy governor of the Bank of England said in a statement that “cryptocurrency” does not pose a threat to financial institutions. But investors still need to be prepared to "lost all the money" if invested
On July 14, 2021, CNBC news slotxo agency reported that "John Cunliffe", Deputy Governor of the Bank of England (BOE) announced that digital currency or “Cryptocurrency” is still not a threat to the country's financial institutions. Even though it is a highly volatile asset
However, Canliffe said People who invest in digital assets like digital currencies or cryptocurrencies Still have to be prepared to However, now the cryptocurrency market is not “large” enough to have an impact on institutions and the financial system.
The rapidly growing trend of cryptocurrencies is seen as a serious threat to the “traditional” financial system as it makes central banks around the world. including financial regulators More difficult to track financial transactions This may reduce the efficiency of monetary policy. including the stability of the country's financial system
It could also interfere with the circulation of a country's currency, or trigger a bank deposit system, meaning people may turn to crypto instead. because it is an alternative financial system Each country has begun to develop a “Central Bank Digital Currency (CBDC) or a digital currency issued by its own central bank. |
|
|
|
|
|
