Unlike Bitcoin, the Bank Of England’s statement that cryptocurrencies don’t pose a threat to financial stability did not age well at all. Back in July, CNBC reported that the Deputy Governor of the Bank Of England, Jon Cunliffe said,
The speculative boom in crypto is very noticeable but I don’t think it’s crossed the boundary into financial stability risk.
Cunliffe stated that for the time being, crypto trading is primarily reserved for retail investors, underlining the central bank’s position that anybody trading in crypto assets should be willing to lose all of their money.
However, as the crypto market changed dynamically and at a mind-blowing pace, the new Deputy Governor Sam Woods said if necessary, the United Kingdom will implement crypto capital restrictions ahead of schedule.
Our overriding approach is that we both are and seen to be a robust implementor of international standards
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https://news.todayq.com/news/bank-of-england-scared-makes-a-play-for-new-bitcoin-regulations/You seem to confuse regulation with being scared. Lack of regulation is what helps the mega rich billionaires pay less tax than their secretaries because their accountants have outplayed the lawmakers and been many steps ahead of the curve. Well formed laws to regulate markets, companies and people should be a good sign - otherwise you end up in a wild west situation where the smallest get crushed and bullied for the benefit of the few. People should not be afraid of regulation, however much it seems to frighten you, because it is the only thing that can be used to level everyone up if politicians and officials use it wisely. Regulation is the enemy of lobbyists (legalized bribery) who would happily feed you raw sewage in a bun if it meant their masters - the large corporations - could sign off their yearly bonus.