{"id":71895,"date":"2022-12-23T19:46:56","date_gmt":"2022-12-23T17:46:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71895"},"modified":"2025-09-08T11:44:21","modified_gmt":"2025-09-08T08:44:21","slug":"bank-of-england-calls-for-regulation-of-cryptocurrencies-before-problems-arise","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bank-of-england-calls-for-regulation-of-cryptocurrencies-before-problems-arise\/","title":{"rendered":"Bank of England calls for regulation of cryptocurrencies &#8216;before problems arise&#8217;"},"content":{"rendered":"<p>Cryptocurrencies are increasingly integrated into the traditional financial system, so a regulatory framework is needed before the emergence of &#8216;systemic problems&#8217;. This was stated by Bank of England Deputy Governor John Cunliffe in an interview with <a href=\"https:\/\/news.sky.com\/story\/ftx-collapse-shows-crypto-is-too-dangerous-not-to-regulate-bank-of-england-deputy-governor-says\">Sky News<\/a>.<\/p>\n<p>According to him, regulation is necessary to protect retail investors and the financial system as a whole. In particular, British authorities are already considering steps in this direction.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abWe had banks, investment funds and others who wanted to invest in this [cryptocurrencies]. I think we should think about regulating before [digital assets] are integrated into the financial system and before we encounter potential problems\u00bb, emphasised Cunliffe.<\/p>\n<\/blockquote>\n<p>Earlier, the Bank of England&#8217;s Deputy Governor <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-calls-for-regulating-cryptocurrencies-in-line-with-traditional-markets\">proposed<\/a> regulating digital assets in line with traditional finance. He also noted that decentralized protocols <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-flags-risks-in-the-defi-sector\">do not yet provide<\/a> an effective way to manage risks.<\/p>\n<p>In December it was announced that the UK cabinet <a href=\"https:\/\/u1f987.com\/en\/news\/uk-to-unveil-new-rules-for-crypto-firms\">would present new rules for the operation of<\/a> the digital assets industry.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies are increasingly integrated into the traditional financial system, so a regulatory framework is needed before the emergence of &#8216;systemic problems&#8217;. This was stated by Bank of England Deputy Governor John Cunliffe in an interview with Sky News.<\/p>\n","protected":false},"author":1,"featured_media":71896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,810],"class_list":["post-71895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=71895"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71895\/revisions"}],"predecessor-version":[{"id":71897,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71895\/revisions\/71897"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/71896"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=71895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=71895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=71895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}