jamesashmore1964 (OP)
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June 29, 2018, 08:16:31 AM |
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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 |
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jamesashmore1964 (OP)
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June 29, 2018, 08:18:24 AM |
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Thinks get worse by the day!
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Rinaldi11
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June 29, 2018, 08:44:36 AM |
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“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
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jamesashmore1964 (OP)
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June 29, 2018, 01:13:22 PM |
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This news might be one of the reasons why the market is going down!
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kl8847
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June 29, 2018, 03:14:43 PM |
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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-newsThose news are really discouraging, also recently I have heard one of the top world leading economists said that you need to be fast and quit the game because it's going to end soon. |
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duyduc256
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June 29, 2018, 03:19:18 PM |
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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-newsA lot of bad news at the moment but I think this news has not much impact on the market as the downtrend is getting worse and most of all the world market is experiencing this situation. Not only does the UK bank object to this, but almost all banks around the world fear Cryptocurrency, so just relax and buy more. |
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sareineella456
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June 29, 2018, 03:20:33 PM |
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Obviously they'll say that lol. Can't really blame them anyway though, a lot of dumb people do need the warning to be fair.
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kha180740
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June 29, 2018, 03:21:48 PM |
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England, not again. Lloyds also against Crypto. That's why everybody apply for German bank online, where is crypto friendly with huge limits and easy registration. They will loose a lot of money if they keep ignoring crypto.
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cryptomagnate
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June 29, 2018, 03:31:57 PM |
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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-newsWe should be very careful the way we spread FUD information to our great community, one lesson I have learnt with my stay here is that FUD does no good to crypto investors. The market will recover very soon so we should not panic. |
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kha180740
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June 29, 2018, 03:37:27 PM |
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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-newsWe should be very careful the way we spread FUD information to our great community, one lesson I have learnt with my stay here is that FUD does no good to crypto investors. The market will recover very soon so we should not panic. It's not FUD, it's news. And if you not share news and ignore it, it will be worse than FUD, it will look dodgy. |
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jakasantosa
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Think better
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June 29, 2018, 03:38:10 PM |
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Warning is given because That Bank suffered huge losses. Many bank users are turning to cryptocurrency that are more promising of higher investment values.
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Look Forward
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Nicolaus Copernicus
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June 29, 2018, 03:43:16 PM |
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I see why is the market has no improvement. This types of discouragement is really destroying the reputation of cryptocurrency. I thought cryptocurrency will be the biggest thing in the future. But alas if the media and government keep discouraging then cryptocurrency will eventually fade away.
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Bardman
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June 29, 2018, 03:57:25 PM |
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Meh, nothing new here. Yes cryptos are extremely volatile, at this point I'm sure anyone who heard of bitcoin also knows that it's highly volatile and a lot of people won't ever invest or put their money into it. As long as they are not making it illegal, we are going to be fine.
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Intensity
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June 29, 2018, 03:57:55 PM |
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I see why is the market has no improvement. This types of discouragement is really destroying the reputation of cryptocurrency. I thought cryptocurrency will be the biggest thing in the future. But alas if the media and government keep discouraging then cryptocurrency will eventually fade away.
The joy of being part of the media. The pros is that crypto is talked about a lot more on the news, and CNBC has a BTC ticker now. The cons is that the negative publicity hurts the community and tends to discourage people into entering the space. |
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haroldtee
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June 29, 2018, 04:05:25 PM |
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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!
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dumplingsandsushi
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June 29, 2018, 04:11:30 PM |
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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-newsHmmmm...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. |
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IgorShumilo
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June 29, 2018, 04:15:21 PM |
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Banks buy up large exchanges, because the profits from commissions for transactions are comparable with their revenues. These are not jokes guys, there will soon come a time when we will trade only on decentralized exchanges, because all large centralized banks are controlled and we will pay big taxes on profits. That said one asshole, or what does not mean for world development of technology blockchain and bitcoin recognition. Time will tell who was right!
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Crypto_lion
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Merit: 11
NEW MEDICINE:Faster, Safer, Smarter
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June 29, 2018, 04:17:06 PM |
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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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MRlong
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June 29, 2018, 04:17:17 PM |
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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  |
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CryptoTamer
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June 29, 2018, 04:44:02 PM |
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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-newsHmmmm...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 |
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