Bank of England Deputy Governor: FTX Collapse Highlights Urgent Need for Tighter Crypto Regulation

Bank of England Deputy Governor: FTX Collapse Highlights Urgent Need for Tighter Crypto Regulation


Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, says the collapse of cryptocurrency exchange FTX has highlighted the urgent need for tighter crypto regulation. “We should not wait until it is large and connected to develop the regulatory frameworks necessary to prevent a crypto shock that could have a much greater destabilizing impact,” said the deputy governor.

Bank of England’s Cunliffe on FTX Collapse and the Need for Crypto Regulation

Sir Jon Cunliffe, Bank of England’s deputy governor for financial stability, shared his view on the collapse of cryptocurrency exchange FTX and the need for tighter crypto regulation at a Warwick Business School event Monday.

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Citing “last year’s crypto winter and last week’s FTX implosion,” Cunliffe detailed:

While the crypto world …

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