Crypto Has Grown Outside of Regulatory Oversight but Has No Intrinsic Value, Says Bank of England Deputy Governor
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The Deputy Governor of the Bank of England, Sir Jon Cunliffe, says that the collapse of the FTX exchange has exposed the vulnerabilities of crypto assets. In a Sky News interview, Sir Cunliffe says that crypto assets have existed in a regulatory vacuum over the last decade. “I think what it tells you is there’s a lot of activity that’s developed over the last 10 years on the trading and sale of crypto assets. Assets without any intrinsic value, so they’re incredibly volatile. And all of that has grown up outside of outside of regulation.” According
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,…