Bank of England: Crypto Needs Regulation

What is happening?  Jon Cunliffe, Bank of England’s deputy governor for financial stability calls for crypto regulations

Why is this important? He said, “technology can change the way risks are managed and distributed, it cannot eliminate them”

How will this be important?

Innovators, alongside regulators and other public authorities, have an interest in the development of appropriate regulation and the management of risk.–Jon CunliffeDEPUTY GOVERNOR, BANK OF ENGLAND

CNBC | Crypto needs regulation — technology can’t remove all financial risks, BOE’s Cunliffe says