The Deputy Governor of the Bank of England, Jon Cunliffe, considers the supervision of DeFi companies urgent before they endanger the stability of the international financial system.
Discussion in the British Parliament of a bill that will allow regulators to implement a comprehensive regulatory framework for cryptocurrencies has just ended.
The recent collapse of cryptocurrency exchange FTX shows the urgent need to strictly regulate the cryptocurrency industry, Bank of England (BoE) Deputy Governor Jon Cunliffe warned Monday.
The official stressed that cryptocurrency trading must be subject to clear and precise rules by financial control agencies. Otherwise, unregulated digital money and companies will threaten the stability of the broader financial system, he said.
The fall of FTX, the world’s second-largest cryptocurrency trading platform by trading volume, which was owned by former billionaire San Barman-Fried, has deepened the crisis in the digital finance industry k
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