Leveraged Crypto Trading is a Threat to Financial System, Warns Bank of Korea
Earlier this week, head of South Korea’s central bank Lee Ju-yeol warned that leveraged crypto trading was a threat to the country’s financial system. “An excessive level of leveraged cryptocurrency trading puts households at risk of financial damages considering the instability of [crypto],” he said. We expect [the increasing amount of crypto trading] to have […]
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Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrency is getting closer to posing a threat to global financial stability due to the sector’s rapid growth. Crypto is also being integrated into the traditional financial system at a rapid rate. He urges regulators to take action now. Bank of England’s Jon Cunliffe Warns Crypto Is Closer to Becoming a Threat to Global Financial Stability Sir Jon Cunliffe, Bank of England’s deputy governor for financial stability, talked about bitcoin and cryptocurrencies in....
The central bank of France - aptly named Bank of France - has issued a warning to the general public about the risks of getting involved with digital currency bitcoin. The bank has said that "even if bitcoin is not currently a credible investment vehicle and therefore do not pose a significant risk to financial stability, they represent a financial risk for those who hold them". In other words, you may lose all your money. Thankfully, the Bank of France (and the French government) haven't imposed any sort of regulation or bans (we're looking at you, China). It seems as if this is more of....
South Korea’s Financial Services Commission (FSC) is ordering all domestic crypto exchanges to implement near real‑time asset‑matching systems. A Tighter Time-Regime For Crypto Exchanges All Korean crypto exchanges must have a new asset-matching system by the end of May if they don’t want compliance problems, the financial regulator said this Monday. According to The Korea […]
The newly appointed Governor of the Bank of Korea (BOK) has delivered his first policy address in office, highlighting central bank digital currencies (CBDCs) and bank-issued deposit tokens while skipping any mention of stablecoins, despite South Korea’s efforts to develop a related framework and establish a local market. Related Reading: Coinbase Launches Crypto-Backed USDC Loans […]
Bank of England's Sir Jon Cunliffe has urged British lawmakers to think “very hard” about the disruption integrating cryptocurrency with traditional finance could wreak. Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England (BoE) crypto may pose an imminent threat to the traditional financial system. During a Nov. 15 interview with the BBC’s “Today” program, Cunliffe argued that the rapid growth of digital assets and their integration with traditional financial services could soon pose systemic risks, stating: “[Cryptocurrencies] are growing very fast, and....