The Financial Policy Committee (FPC) of the Bank of England has issued a warning to financial institutions considering jumping into the crypto markets.
In the latest issue of Financial Stability in Focus, the FPC says that crypto has become increasingly integrated into the financial system as digital assets and their related markets and services continue to grow.
Although it does not consider the crypto market as an immediate threat to the United Kingdom’s monetary stability, the body, which was formed to oversee the regulation of the nation’s financial sector, says that local and international measures should be made to effectively manage potential risks.
“The FPC judges that direct risks to the stability of the UK financial system from crypto assets are currently limited. However,