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-newsOld allegations against cryptos. I think most of the countries have issued such circulars stating the risky nature of cryptos and how they can be easily used in illegal transactions. But these banks and governments tend to forget that cash is the most used method of illegal activities. Cryptos on the other hand might make it easier for the agencies to gtrack down some illegal activities as happened recently where US agencies tracked down an illegal use of cryptos in dark web. Cryptos are the future of financial landscape.