Bank of England warns against Cryptos

[Asgar 9]

It does not say anything. Treat this simply as a private opinion of a bank official and no more. This does not mean that the whole banking system thinks so.

[batang_bitcoin]

He's about crypto's are high volatile so what's new about this news? are they the first timers who called crypto's that way? no.

This is not the first time news like this will be published. Cryptocurrency has always been surviving it. Those banks are being jealous and cautious of this competitor called crypto

Exactly and I don't why this guy is taking this personally or he is just posting something that he wants to.

Expect that bankers won't be an ally for crypto's and they will always be mad at us.

[Vaultitude]

Of course it's volatile and illiquid. But it won't always be.

[pieliedie87]

Thinks get worse by the day!

Check coinmarketcap, coingecko, there is nothing call better or good at this moment.

[valnd]

This is discouraging to the crypto space and a bad news to the cryptos but the truth is that we have heard news worst than this in the past but cryptos still survives, So no amount of discouragement will make people to quit cryptos entirely. If cryptos is that bad, why is that big institutions are investing huge amount into cryptos? Think about it and stay positive, everyone must not support cryptos, banks are against it because of what they stand to lose when cryptos go main stream.

[sponge_bob13]

I doubt about the authenticity of the news and I think thus is a fud. An attempt to spread some negativity on crypto. Market is already bearish. Please don't spread such fake news and negativity, this can have severe affect on market.

[zero4five]

The main reason for such an impressive instability is that people do not know what to expect from a crypto currency. The increase in demand is affected by the smallest trifle, which increases the attractiveness of crypto currency in the eyes of the consumer.
Similarly, the slightest and most natural depreciation of the exchange rate can provoke a disproportional decrease in demand. Then the crypto currency will start to fall, in fact, without any reason at first sight. Then, of course, it will grow again, if in itself is in demand. However, the fact of the fall will be fixed, and it, together with the subsequent growth, will determine that high volatility, which analysts say.

[cryptodagger]

This must be another FUD that might trigger most of the investors to pull out their money out from the basket,which is why we should be expecting another bearish trend.If these news are real we should be able to get our money from the market,so that the damages that we'll get will be minimal.

[ApemQ]

oh yeah thanks for the info you gave, maybe this is what makes the market has decreased in price lately, but believe me bad newa only have temporary effect, after this crypto will be huge again and rising to the moon, good crypto for long term.

[futuristishe]

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

Still, such news affect the market as a whole! It is possible that in such countries will be cryptocurrency is prohibited. ICO in the us is prohibited! China also banned bitcoin. Just the most interesting thing, Russia on the contrary wants to legalize the cryptocurrency!

[mynamehere]

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

well there is nothing surprisingly unusual in it there are many countries which not only warn, biut ehoch forbid cryptocurrencies

[mynamehere]

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

Still, such news affect the market as a whole! It is possible that in such countries will be cryptocurrency is prohibited. ICO in the us is prohibited! China also banned bitcoin. Just the most interesting thing, Russia on the contrary wants to legalize the cryptocurrency!

i do not think that such a situation is going to daty forever, and sooner or later counries will accept cryptocurency world, i hope

[Bitcoincole]

This must be another FUD that might trigger most of the investors to pull out their money out from the basket,which is why we should be expecting another bearish trend.If these news are real we should be able to get our money from the market,so that the damages that we'll get will be minimal.

That is only a clear warning shot that warns the banking system and the market to aware cryptocurrency exchange if the value of bitcoin continues dropping below $5000 USD. But mentioning another bearish trend that is hard to predict as the value of market now a days are surging $6K to $7k.

[salinagomez]

Thank you for the news. I think is not good at all. I don’t know why bank of England did this. But I think they are just afraid of cryptocurrencies progress. I hope someday they will accept cryptocurrency and understand the advantages of cryptocurrency.

[CoinEraser]

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

Such warnings have been issued several times by other banks and people. I will continue to ignore such hints and recommend everyone not to let such hints drive you crazy. There are worse things that can happen than this message from a bank. There will always be people who are against crypto and will talk it badly. 

[therhslv]

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

Really ? Fiat money have more laundering and terrorist financing risks ... So it means we should not use Fiat money at all ? There always will be fraud and manipulation everywhere . They all keep saying same thing for years . Its nothing new

[Juxiaolong]

crypto is a revolution. Since this is a revolution, it will certainly be suppressed. Last year, China issued a ban on cryptocurrency trading in the country, but just a few days ago, the People's Bank of China decided to issue its own cryptocurrency. I think the influence of the Bank of England is not as great as the People’s Bank of China. So I'm still optimistic about crypto.

[gegewojinnian18]

I am not worried about the warning issued by the Bank of England. I think that the cryptocurrency cannot be affected by the warning. On the contrary, I think this may indicate the return of the green market.

[kmntrci]

Crypt is a potential competitor for banks and if such a statement was published by another authoritative state or private but not an interested person, then I might be listened to ot.

[dellmoon]

The statement given by Deputy Governor of Bank of England might affect the cryptocurrency market. It might be one of the causes of dropping of price of cryptocurrency. Thanks for posting this.