Bank of England warns against Cryptos - page 2.

Derzkiy

copper member

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Quote from: jamesashmore1964 on June 29, 2018, 04:16:31 AM

The Bank of England sent a clear warning:

Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”

Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”

https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

They say so because they understand that the crypto currency is a big competitor for all banks and the banking system. Crypto currency can make it so that banks as such will no longer be needed!

ElizaZX

full member

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Another banker, who believes that the crypto currency is threatening his company. And he correctly thinks, because the people's keenness with the crypto currency is becoming more tangible for the economy.

anilsaini.jaipur

newbie

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This clearly shows that banks are afraid of these new technologies and they do not welcome the changes in the current scenario. But this is just the start. Some banks have already joined the blockchain revolution. So few banks ban will not hurt crypto.

gabrielkings

newbie

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I think they are only being scared that cryptocurrency might eventually kill banks and they'll lost their jobs. They are trying to fight for their jobs and secure their positions. Eventually, crypto might be able to break all odds and those who refused to adopt at an early stage will regret.

CryptoRama

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They will be allways against it because bitcoin is against their interest, or maybe they only want us to believe that, so btc can drop in price and they can buy it even more and more! it's a race boys...

mbally

newbie

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Merit: 0

In his words he might be correct but that doesn't make cryptos to be bad, I don't know why people only consider the market aspect of the it, no one talks about the technology, I believe the more people consider the tech aspect of the cryptos, more people will adopt it and find means to regulate the market part of it.

Rejinx

hero member

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It does not deliver anything. Treat this purely as a crotch estimation of a argot ordained and no also. This does not think that the total banking method thinks so.

Iyanu14

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We have had several warning from banks towards the damager and risk in crypto investment, banks itself see blockchain tech as a threat against banks. As a result i don't expect a supportive statement from them.

JeffBrad12

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Leading Crypto Sports Betting & Casino Platform

Quote from: cozujeye on August 03, 2018, 05:08:14 AM

I question about the realness of the news and I think hence is a fud. An endeavor to spread some pessimism on crypto. Market is as of now bearish. Kindly don't spread such phony news and antagonism, this can have extreme effect on advertise.

It's only another FUD and you can see that how the UK authority has been approving some application regarding the bitcoin mining and that gives a green lamp to the bitcoin in UK. I guess that has been created by the haters of bitcoin or purely the bank was creating FUD.

cozujeye

newbie

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I question about the realness of the news and I think hence is a fud. An endeavor to spread some pessimism on crypto. Market is as of now bearish. Kindly don't spread such phony news and antagonism, this can have extreme effect on advertise.

pissuyakkuu

newbie

Activity: 98

Merit: 0

This is disheartening to the crypto space and an awful news to the cryptos yet actually we have heard news most noticeably awful than this before yet cryptos still survives, So no measure of debilitation will make individuals to stop cryptos totally. On the off chance that cryptos is that awful, why is that enormous foundations are putting tremendous sum into cryptos? Consider it and remain positive, everybody must not bolster cryptos, banks are against it in light of what they remain to lose when cryptos go standard.

Sywekoli

newbie

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Britain, not once more. Lloyds likewise against Crypto. That is the reason everyone apply for German bank on the web, where is crypto amicable with immense points of confinement and simple enlistment. They will free a considerable measure of cash on the off chance that they continue overlooking crypto.

jhache

full member

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They have always warned against cryptos, they owe it to their customers to make sure that they tell them the risks regarding something they are getting involved in. NO matter how hard the banks will try to discredit cryptos, it will not change the fact they they are a revolutionary technology. I won't be surprised to see these same banks start accepting cryptos in the future.

chenhaonan

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This is a prejudiced statement. There are many loopholes in cryptocurrencies, but this is not a way to hinder the development of cryptocurrencies. In the future, everyone will accept cryptocurrencies.

engesi

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Fast, Smart, Trustworthy

Now Wall Street banks are ready to enter the cryptocurrency. Who cares what the Bank of England says？and I think the Bank of England will soon recover what it said in the face of interest.

Ceballos

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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

who cares?
Market is rising and target is new all time high and who cares bank of england? World is accepting crypto currencies and bank of england is going to accept that too.

anilsaini.jaipur

newbie

Activity: 112

Merit: 0

This clearly shows that banks are afraid of these new technologies and they do not welcome the changes in the current scenario. But this is just the start. Some banks have already joined the blockchain revolution. So few banks ban will not hurt crypto.

marcripto

full member

Activity: 658

Merit: 100

The statements of the Bank of England do not surprise me because the banks are part of the "power group" that is trying in every way to stop the revolution of the world of cryptocurrencies. Banks have a great interest in combating this sector, because with the development of cryptocurrencies they would lose most of their banking transaction revenues

argus312

jr. member

Activity: 168

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Something becomes a lot of such news about the crypto currency, but I still will not give up and will hold!)

Denlv

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dApps Development Automation Platform

In my opinion this is truth,what u want to hear more about crypto many peoples is using crypto for black work,terrorism,speculation and scaming peoples.I dont see anything good happened for the time in crypto history if im not correct please write,how crypto changing world to good side...

Topic: Bank of England warns against Cryptos - page 2. (Read 610 times)