The Bank of England sent a clear warning:
Sam Woods, the Bank of England deputy governor responsible for financial supervision said that in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.
Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.
https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-newsHmmmm...a big bank whining about crypto? How many times has this been done before?
Of course big banks are negative towards crypto, it makes a lot of what they do obsolete.
As far as money laundering and terrorist financing risks, that is straight up fud in the style of trump.
Those are HUGE claims that aren't backed by anything at all.
Instead, it uses scary catch phrases to paint a bad picture.
by the way, you know how terrorists get financed? Through MONEY.
The largest perpetrators of money laundering and terrorist financing are the big banks (like bank of england) themselves.
Their flimsy KYC protocols do nothing and their privacy features encourage anonymous movement of money.
So yeah, let's move on with our lives, bank of england can go screw themselves.
There are many Corruptors, Terrorists, Criminals keep their money in Banks, Most Bankers are hypocrites and their concern for crime is bullshit. Yes I think their KYC procedures are useless due to the fact that their service is still used by many criminals