FTX collapse shows need for regulation to crypto asset industry = Bank of England Deputy Governor

FTX collapse shows need for regulation to crypto asset industry = Bank of England Deputy Governor

[LONDON 21st Reuters] - Deputy Governor Cunliffe of the Bank of England (British Central Bank) expressed the view on the 21st that the bankruptcy of major FTX in the US crypto asset (virtual currency) exchange business indicates the need to incorporate the crypto asset industry within the regulatory framework. FTX applied for application of the US Federal Bankruptcy Law Section 11 (equivalent to the Civil Rehabilitation Act of Japan) and its man…

FTX: Tougher crypto rules needed after collapse, says Bank of England

The UK could face a "crypto shock" without better regulations, says a Bank of England senior official.

FTX shows need to regulate crypto before it gets big, says Bank of England

LONDON (Reuters) – The implosion of cryptocurrency exchange FTX shows the need to bring the crypto world within the regulatory framework, Bank of England Deputy Governor Jon Cunliffe said on …

FTX implosion shows urgent need for crypto rules, says Bank of England

The implosion of FTX has underlined the need to rapidly bring crypto within the remit of financial watchdogs before it threatens the stability of the wider financial system, the deputy governor of the Bank of England has warned today.The collapse of FTX, founded by disgraced former billionaire Sam Bankman-Fried, has sent shockwaves through the crypto world and revealed major corporate failings at the top of the firm.Speaking today at a policy ev…