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Bitcoin is getting closer to posing a risk to financial stability, the Bank of England's deputy governor warns
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Crypto assets like bitcoin are evolving so rapidly that they are becoming more of a potential threat to the global financial system, Bank of England's deputy governor Jon Cunliffe has warned.
«On the question of bitcoin and other crypto assets and their value, my judgement is they are not at the moment a financial stability risk,» he said, speaking in an interview with BBC Radio 4 on Monday.
«But they are growing very fast, and they are becoming integrated more into what I might call the traditional financial system,» he added. «So the point at which they pose a risk is getting closer, and I think regulators and legislators need to think very hard about that.»
Crypto assets have exploded in popularity, and
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