Topic: Bank of England warns against Cryptos - page 5. (Read 610 times)
This is not the first time news like this will be published. Cryptocurrency has always been surviving it. Those banks are being jealous and cautious of this competitor called crypto
On my opinion it is just a "special manipulative game'. I don't believe in any journal, expert. I believe only in what I see ( not every-time). This words is nothing for me.
Not good news lately.Let's hope that the procedures of KYC and AML will allow us to revise the attitude to cryptocurrencies for the better.Because of such news and the market is red 
this is really a news to worry about. If a state like England doesn't feel positive about crypto then this can certainly have a effect on the market. Let's just pray for market recovery now and work for it hard because if the price starts to grow up this negative effect will also be neutralized hopefully. I wish for a better future for cryptocurrency.
All this FUD is why the market is dropping hard, nevertheless I want us to be optimistic cause this is only a bear market.
they like indication Express another opinion. when the market will grow they will say the opposite
Come on. We are blah, blah heard many times from various officials and banks. In my opinion, they are simply afraid. That's honest. Do you think they are concerned about the welfare of ordinary people? They are only concerned about money in the banking sector. It's no secret that the money from banks flows swiftly into the cryptocurrency sphere. This is the only reason for their concern.
And drugs and terrorism are ridiculous. Long before the appearance of bitcoin and altcoins, criminals had money in sufficient quantities.
And drugs and terrorism are ridiculous. Long before the appearance of bitcoin and altcoins, criminals had money in sufficient quantities.
I don't think this is a start of the end...we saw this before and many people stopped to invest and had nothing eventually! As for me I will buy more 
It really is, and people are beginning to use the fact that others want to make money and run fraudulent projects in order to enrich their wallets is precisely because of this we are warned, just need to be careful and carefully study the projects in which you invest!
This news might be one of the reasons why the market is going down!
@jamesashmore, you may be right, that's why the market is not to good recently. the key to this market rising depends on the top coins. the need to prove to the world that are capable. but i'm afraid they can't
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.
It is not like we are surprised any good news will ever come from the banks. Who are the highest manipulators if I may ask? Bunch of hypocrites and black pots trying to call kettle black. We really do not need their opinion anyway, as it is not like we are not aware of the volatility right from the start. Apparently, they are feeling the heat, which makes me even happier!
Indeed! Another day Another news about negativity which it isnt really surprising and these kind of news or words from banks arent new and just as expected those words would be commonly spew out from their mouths.Same as yours i do feel happy when they do already feel on cryptocurrency effects into their service but at the same time we cant really deny that we are bit worried because the more restriction the lesser space we can move but well it doesnt matter coz crypto wont be dead. “In their short history, crypto-assets have exhibited high price volatility and relative illiquidity,” Woods said in a letter to the chief executives of banks and insurers he regulates. “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.” The BoE expects firms to inform their usual supervisory contact of any planned crypto-asset exposure or activity on an ad hoc basis, together with an assessment of the risks associated with the intended exposure
What the hell is wrong with you? You clearly lifted this post of yours verbatim from this article on Reuters website. If you have nothing to contribute to a thread, do not contribute! Rather than pretend to contribute by copying and pasting paragraphs from another article. This news might be one of the reasons why the market is going down!
You have no idea mate! There are many countries who are actually against the crypto currencies and trying to remove them completely from their own countries. Like India recently stopped the dealing with crypto to local currency exchanges. Thus, its not just England but other countries too who are making the fuss about the crypto currencies. However, this effect is coming from different bad news too, like hacks of exchangers, country bans etc. I hope that this doesnt overwhelms the market otherwise it would be difficult to get out of the current situation so soon. This letter is again bad sign for the community because it creates negativity only and nothing else.
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
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
please listen to negative opinions about crypto, but the negative opinion about crypto is not just happening right now, the first time Bitcoin was introduced, many people say that Bitcoin will never succeed. but they are proven wrong, so now we can only predict with many assumptions and hypotheses about cryptocurrencies and later when the time comes, everything will be answered. My advice is to remain optimistic
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
Hmmmm...a big bank whining about crypto? How many times has this been done before?
Of course big banks are negative towards crypto, it makes a lot of what they do obsolete.
As far as money laundering and terrorist financing risks, that is straight up fud in the style of trump.
Those are HUGE claims that aren't backed by anything at all.
Instead, it uses scary catch phrases to paint a bad picture.
by the way, you know how terrorists get financed? Through MONEY.
The largest perpetrators of money laundering and terrorist financing are the big banks (like bank of england) themselves.
Their flimsy KYC protocols do nothing and their privacy features encourage anonymous movement of money.
So yeah, let's move on with our lives, bank of england can go screw themselves.
There are many Corruptors, Terrorists, Criminals keep their money in Banks, Most Bankers are hypocrites and their concern for crime is bullshit. Yes I think their KYC procedures are useless due to the fact that their service is still used by many criminals
Another bad news for crypto world 
. Seem like bank system is trying to figh again cryptocurrency cause in the future if cryptocurrency will be really going to be legalized worldwide, I think bank system will disappear cause nobody need to use cash anymore and they will not deposit their money into bank to get interest anymore cause invest in cryptocurrency is a much better way
. Seem like bank system is trying to figh again cryptocurrency cause in the future if cryptocurrency will be really going to be legalized worldwide, I think bank system will disappear cause nobody need to use cash anymore and they will not deposit their money into bank to get interest anymore cause invest in cryptocurrency is a much better way
I thought that recently there were setting up a task force in England and that they were embracing the tech.I.dontnget why so many central bank are against it.
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