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The Bank of England will push for tighter rules as institutions embrace crypto, official says

The Bank of England wants stronger rules for crypto assets on an international scale as banks and institutional investors deepen their involvement, according to an official at the UK central bank. Sarah Breeden, who works as Executive Director for Financial Stability Strategy and Risk, told The Times in an interview that the focus on international coordination among central bank is a reflection of the difficulty in obtaining data on institutional crypto holdings.  “This is not something the UK can solve …

Bank of England calls for global tightening of crypto regulation

The Bank of England (BOE) said on Monday that regulatory and legal frameworks for crypto-assets would have to be ramped up both domestically and globally to combat the fast-moving market. In its December financial stability report and financial policy committee (FPC) meeting minutes, taken on November 29 and December 9, the bank said that changes would “manage risks, encourage sustainable innovation and maintain broader trust and integrity in the financial system.”  While recognizing the benefits of innovation, it said these developments …