// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . '/rtl.css' ) ) $uri = get_template_directory_uri() . '/rtl.css'; return $uri; } endif; add_filter( 'locale_stylesheet_uri', 'chld_thm_cfg_locale_css' ); if ( !function_exists( 'chld_thm_cfg_parent_css' ) ): function chld_thm_cfg_parent_css() { wp_enqueue_style( 'chld_thm_cfg_parent', trailingslashit( get_template_directory_uri() ) . 'style.css', array( 'font-awesome-v5','bootstrap','sidr','magnific-popup','sliderpro' ) ); wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); } endif; add_action( 'wp_enqueue_scripts', 'chld_thm_cfg_parent_css', 10 ); // END ENQUEUE PARENT ACTION add_action( 'admin_enqueue_scripts', 'my_cfg_admin_enqueue' ); function my_cfg_admin_enqueue(){ wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); }/** * The header for our theme * * This is the template that displays all of the section and everything up until
* * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?> Bank of England’s Cunliffe Pushes for Crypto Regulation — Sees ‘Real’ Benefits for UK – Regulation Bitcoin News – CoinsMegaNews

Bank of England’s Cunliffe Pushes for Crypto Regulation — Sees ‘Real’ Benefits for UK – Regulation Bitcoin News

3 years ago CryptoExpert
Bank of England's Cunliffe Pushes for Crypto Regulation — Sees 'Real' Benefits for UK

[ad_1]

Bank of England's Cunliffe Pushes for Crypto Regulation — Sees 'Real' Benefits for UK

Bank of England Deputy Governor Sir Jon Cunliffe has revealed that the British central bank is planning to step up its efforts to regulate cryptocurrency trading with new laws. “We should think about regulation before it becomes integrated with the financial system and before we could have a potential systemic problem,” he stressed.

Sir Jon Cunliffe on Crypto Regulation

Sir Jon Cunliffe, Bank of England (BOE)’s deputy governor for financial stability, talked about cryptocurrency in an interview with Sky News Thursday. He explained that the British central bank plans to step up its effort with new laws to regulate crypto trading following the collapse of crypto exchange FTX.

“Trading of crypto assets was not big enough to destabilize the financial system, but it was starting to develop links,” Cunliffe said, elaborating:

We had banks and investment funds and others who wanted to invest in it and I think we should think about regulation before it becomes integrated with the financial system and before we could have a potential systemic problem.

The Bank of England deputy governor noted that trading in crypto should be regulated rather than banned.

While cautioning that many coins were little more than a “gamble” and most were “without intrinsic value,” he admitted: “There are people who want to engage in that activity.” The BOE official clarified: “Provided they do that with their eyes wide open in a place that is safe, is not full of money laundering or illicit finance … then we should provide them at least with the opportunity to do that.”

Cunliffe opined:

If we’re talking about creating the regulation in which people can see whether they can develop services that have benefits using those technologies to the real economy … then I think there’s a real benefit for the U.K.

However, he cautioned: “If we’re talking about using these crypto technologies to create, basically, crypto assets that have nothing behind them … I don’t think there’s ever going to be a sustainable financial activity around that.”

In November, Cunliffe said the collapse of crypto exchange FTX highlighted the urgent need for tighter crypto regulation. The Bank of England executive regularly warned about the danger of cryptocurrency. In July, he said crypto is “prone to collapse.” He also expects to see tough times ahead for the industry as the Federal Reserve continues to tighten financial conditions.

Tags in this story

Bank of England, Bank of England crypto regulation, BoE, British Central Bank, England central bank, England crypto regulation, England cryptocurrency regulation, ftx, Jon Cunliffe crypto, Jon Cunliffe crypto regulation, sir jon cunliffe

What do you think about Sir Jon Cunliffe’s statements on crypto and its regulation? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

[ad_2]

Source link

Tags:

More Stories

Bank of Russia Supports Cryptocurrency Usage for International Settlements

Bank of Russia Supports Cryptocurrency Usage for International Settlements

1 year ago CryptoExpert
IMF Urges Ukraine to Finalize Crypto Legislation, Government Official Reveals

IMF Urges Ukraine to Finalize Crypto Legislation, Government Official Reveals

1 year ago CryptoExpert
South Korea to Unveil Guidelines Barring the Listing of Hacked Coins

South Korea to Unveil Guidelines Barring the Listing of Hacked Coins

1 year ago CryptoExpert
Uniswap Labs Receives SEC Wells Notice, Founder Vows to Fight

Uniswap Labs Receives SEC Wells Notice, Founder Vows to Fight

1 year ago CryptoExpert
Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is ‘Unstoppable’

Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is ‘Unstoppable’

1 year ago CryptoExpert
Vaneck CEO Expects SEC to Reject Spot Ethereum ETF Applications in May

Vaneck CEO Expects SEC to Reject Spot Ethereum ETF Applications in May

1 year ago CryptoExpert

Leave a Reply

Your email address will not be published. Required fields are marked *

/** * The template for displaying the footer * * Contains the closing of the #content div and all content after. * * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?>

You may have missed

Online Gambling Establishment Real Money: A Comprehensive Overview to Winning Large

2 days ago xtw18387208b

How to Deposit at Online Gambling Establishments Using Neteller

2 days ago xtw18387208b

Free Online Slots No Download: The Ultimate Guide

2 days ago xtw18387208b

The Best Places to Play Casino Games Online

3 days ago xtw18387208b