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BoE's Bailey tells banks to be 'especially cautious' with crypto
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economictimes.indiatimes.comBank of England Governor Andrew Bailey warned banks and other regulated financial firms on Monday that they should be «especially cautious» about holding volatile cryptoassets until regulators put new rules in place. Bailey, speaking at a news conference, said future rules for cryptoassets — the BoE's preferred term for financial instruments such as bitcoin — would balance risk management with the need to support innovation and competition. «The FPC considers that financial institutions should take an especially cautious and prudent approach to any adoption of these assets until such a regime is in place,» he said after a meeting of the BoE's Financial Policy Committee (FPC).
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