Crypto needs regulation — technology can’t remove all financial risks, BOE’s Cunliffe says

Regulators need to “get on with the job” of bringing the use of crypto technologies within the “regulatory perimeter,” says Jon Cunliffe, Bank of England’s deputy governor for financial stability.

Speaking at the British High Commissioner’s residence in Singapore on Tuesday, Cunliffe shared insights on the recent “crypto winter,” which refers to a period of falling crypto prices that remain low for an long time.

Finance carries inherent risks, and while technology can change the way risks are managed and distributed, it cannot eliminate them, he added.

Source: https://www.cnbc.com/2022/07/13/tech-cant-remove-all-financial-risks-crypto-regulation-needed-boe-.html