Bank of England: Bank provides encrypted currencies requires support for global regulatory systems

Recently, the Bank of England is responsible for the financial strategy and risks, Sarahbreeden, said that as more and more loan institutions provide encrypted currency transactions and managed services to their customers, the world needs a comprehensive system. To protect the global financial system.

Briden said that a challenge facing the monetary authority is to find reliable data of encrypted currency held by institutional investors. She believes that international cooperation will be necessary to establish a reliable account of these numbers. “The ability to get the data of institutional investors [holding] is a challenge,” she said. “This is not a problem that the UK can solve alone.” Britden proposes to cooperate between members of the Financial Stabilization Committee, and the Financial Stabilization Committee is a global institution consisting of Central Bank of the United States, Europe, Japan and Australia.

Potential risks cannot be ignored

Although the Bank of England lacks official data, it believes that the coalgic currency market is currently less threatened in a broader financial system. In the United Kingdom, about 2.3 million people have encrypted currency investment, but the investment of these people is small. Once the market plummeters may patch these investors, the remaining impact on the market is small.

Bretden said: “But if someone borrows money for this, or if some institutional investors hold it in their portfolio, you will produce a chain reaction to our financial stabilization. That is to say, the closer these assets, the more likely, the more possible, the more likely to be substantial. “

UK prohibited encrypted currency ads

At the same time, other British authorities also require encryption of monetary related companies to bear greater responsibility. Last week, the UK’s advertising supervisor banned seven advertisements related to encrypted currency, and added that it intended to update the guide next year.

Advertising Standard Authority (ASA) prohibits these advertisements, and said that “they are not responsible for the use of consumers’ experience, and fail to explain investment risk”. According to the ASA complaints and investigating the Miles Lockwood, as the use case increases, the authorities will monitor encrypted advertisements as “a red alert priority issue”.