Tighter regulations are needed on cryptocurrency, says a senior Bank of England official Sir John Cunliffe.
Tighter regulations are needed on cryptocurrency, says a senior Bank of England official. Sir John Cunliffe from the UK’s central bank believes more protections are needed to be put in place to protect the financial system following the crash of FTX last week - who filed for bankruptcy and now owes more than $3.1 billion - before anything else happens. The deputy governor for financial stability believes the explosive nature of them posed a threat as Bitcoin - the world’s largest cryptocurrency - lost more than 70 per cent of its value in the last year. John wants action before it becomes "lar...