The Bank of England is working on a strict regulatory framework for crypto assets. The Bank of England announced these plans as part of its efforts to prevent the risks to financial stability that the rapid growth of cryptocurrencies could cause.
The global crypto sector flourished in 2021, with the total market cap for the sector growing by 187.5%. There are currently more than 17,000 crypto assets tokens in circulation.
While recognizing the benefits of crypto such as low transaction costs and more choices for users, BOE emphasized the need for effective public policy …
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