Anti-Privacy Regulations Pose Risks for Crypto Investors, Bank of America Says
Cryptocurrencies "challenge the ability of governments to levy taxes and to control capital flows more broadly," the report says.
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India’s central bank, the Reserve Bank of India (RBI), has warned about multiple risks cryptocurrency poses to the country’s financial stability. “They are also prone to frauds and to extreme price volatility,” the apex bank claims, stressing that “cryptocurrencies pose immediate risks to customer protection and anti-money laundering (AML) / combating the financing of terrorism (CFT).”
RBI’s Assessment of Cryptocurrency
India’s central bank, the Reserve Bank of India (RBI), published its biannual Financial Stability Report....
The Bank of England says that crypto assets pose “limited” direct risks to the stability of the country’s financial system. “Cryptoasset and associated markets and services continue to grow and to develop rapidly. Such assets are becoming increasingly integrated into the financial system,” the U.K.’s central bank described.
Crypto Poses Limited Risks to UK’s Financial Stability
The Bank of England’s Financial Policy Committee (FPC) published the October edition of the “Financial Stability in Focus” report....
The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. “The reality is that we can’t do it by regulation,” he said.
Bank of America’s CEO on Crypto
Bank of America (BOA) CEO Brian Moynihan talked about cryptocurrency in an interview with Yahoo Finance Live at the recent World Economic Forum event in Davos, published Saturday.
He was asked about his bank’s plans for cryptocurrencies. “The reality is that we run a payments business across our....
Thailand Security and Exchange Commission (SEC) warns investors within the state about the risks that DeFi transactions pose. SEC claimed that DeFi’s ecosystem, especially lending and debit-taking firms, may not include necessary parameters in their mechanisms to ensure the prevention of rug-pull and overleveraged collateral. While cryptocurrency gained prominent growth in recent years, it also […]
Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares to Tighten Cryptocurrency Regulations, Limit Public Access to Digital Assets The Monetary Authority of Singapore (MAS) has put forward draft regulations that aim to restrict crypto trading for retail investors with the stated goal of reducing risks for consumers associated with....