FTX Disaster Shows Crypto Could Be A ‘Problem’ If Not Regulated, BOE Governor Says
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There is a big lesson to be learned from FTX and cryptocurrencies. A deputy governor of the Bank of England stated in a recent speech at Warwick Business School that the experience of the past few months illustrates that crypto is highly susceptible to the hazards that regulation in the traditional financial industry is intended to prevent. Jon Cunliffe, the BOE deputy governor for financial stability, has reaffirmed his stance in the need to regulate cryptocurrencies, particularly in the aftermath of FTX’s demise. Cunliffe emphasized the developing ties between the regular banking markets and crypto trading and emphasized the urgency of overseeing
Bitcoin Magazine Morgan Stanley Plans To Offer Bitcoin And Crypto Trading To E-Trade Clients Bloomberg reports that the Wall Street giant is in the early stages of planning to add spot Bitcoin and crypto trading capabilities to its ETrade brokerage platform. The project aims to allow ETrade’s retail clients to…
Bitcoin Magazine Russia Is Using Bitcoin and Crypto For Its Oil Trades with China and India Amid ongoing sanctions over the war in Ukraine, Russia has turned to bitcoin and other cryptocurrencies to facilitate some of its oil trade with major buyers China and India. According to a Reuters report,…