Jon Cunliffe

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Bank of England’s Cunliffe: Crypto Threat to Financial Stability ‘Getting Closer’ — Urges Regulators to Act Now

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Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrency is getting closer to posing a threat to global financial stability due to the sector’s rapid growth. Crypto is also being integrated into the traditional financial system at a rapid rate. He urges regulators to take action now. Bank of … Read more

Bank of England’s Deputy Governor: Cryptocurrencies Aren’t Big Enough to Pose Financial Stability Risk

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Bank of England Deputy Governor Jon Cunliffe believes that cryptocurrencies are not big enough to pose financial stability risk. “They’re not of the size that they would cause financial stability risk, and they’re not connected deeply into the standing financial system,” said the deputy governor. Crypto Poses No Financial Stability Risk, Says Deputy Governor of … Read more

Bank of England and HM Treasury Launch a Central Bank Digital Currency Taskforce

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Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency Central bank digital currencies (CBDCs) have been popping … Read more