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-newsThey say so because they understand that the crypto currency is a big competitor for all banks and the banking system. Crypto currency can make it so that banks as such will no longer be needed!