BoE official compares current crypto market regulation to 'unsafe aeroplanes'

07/12 18:26

Jon Cunliffe, deputy governor for financial stability at the Bank of England, has called for a clear regulatory framework for crypto to address risks amid the recent market downturn. “The lesson we should not take from this episode is that "crypto" is somehow "over" and we do not need to be concerned about it anymore,” said Cunliffe. “Crypto technologies offer the prospect of substantive innovation and improvement in finance. But to be successful and sustainable, innovation has to happen within a framework in which risks are managed: People don’t fly for long in unsafe aeroplanes.”
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