Bank of England warns against Cryptos

[juliehunt07]

Yes crypto market is so volatile and in recent time illiquidity is going on high. But I believe that it is just a matter of time to recover. Where market condition is not so good, we can not expect these terms would perform well.

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[bit..what?]

Oh yes, again a warning from a bank. Banks are really scared of crypto, i would say.
Always funny to read. Thanks for sharing.

[cryptolovers990]

that's right bank of England sends a warning , it was written like this " crypto-assests have exhibited high price volatility and relative illiquidity". maybe crypto currencies protocol doesn't go with their rules that's why this kinds of incident happens

[AravinthP]

there is no question that this is a manipulative market and I agree people will loose money..more regulation also doesn't  ensure everything is right in this world after all this is the world for rich people

[arkawa040]

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

Banks are beginning to feel fear of cryptocurrency))) know that soon the banks on the blockchain will come out) imagine a new platform where you can get a loan in France from a Bank in Australia! what competition they will have, so they warn!

[jpaul]

This is nothing new in the cryptocurrency arena, cryptocurrency has been condemned in the recent past by many governments sighting safety and unreliablllty issues  overtime. The fact that most governments feel like the national economies are threatened doesn't make it any better, there are also claims it's being used for money laundering, making most governments critical about it

[gabinsight]

Situations like this always arises, and this usually affects the price of cryptos negatively.. But the good news is cryptos have always find a bounce back stronger.

[aamy90925]

All this FUD is why the market is dropping hard, nevertheless I want us to be optimistic cause this is only a bear market.

[StuartJonson]

This is indeed a sad news for the people engaged in the crypto currency market. This could also lead to a further downward fall in the price on the coins. This news may hit a greater impact, given the market is in a dip right now and could worse the situation even more.

[JohnHendry]

these sort of news are very sad and disheartening given that the market is not doing very well right now with low prices. this could reduce the number of investors from a market so huge like the said country mentioned. this cloud drastically reduce the price furthermore in the market.

[coinic]

these sort of news are very sad and disheartening given that the market is not doing very well right now with low prices. this could reduce the number of investors from a market so huge like the said country mentioned. this cloud drastically reduce the price furthermore in the market.

Eventhough they warns crypto in there community but as long as individuals still believe in crypto world they can't stop because there's a lot of solution due to the high technology right now.
If someone's country has the issues of crypto then market collapse at lower rate value so I hope for acceptance in this kind of technology for everybodys wealth.

[TomWilson32959]

Oh maan. another sad facts again..

[boranes]

I have to say I have read title and I don't think I will click link and read article because I simply don't care what banks are thinking. Since I joined this industry only bad news and negativity is coming from banks and in my opinion thieves don't have right to their opinion about crypto.
Banks were, are and will be against crypto. Nothing to read here.

[Faeton]

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

Is it any wonder that the banker said about the crypto currency bad from the point of view? Bankers are worried about their profits and therefore whatever the crypto currency would be perfect, they would still think of something to blacken it and show citizens that they need to contact banks, and not leave banks to deal with crypto currency.
I do not think that the next and often repeated negative opinions of bankers regarding the crypto currency will somehow affect the price of the crypto currency.

[aces777]

Their warning is the same thing that every crypto investors already knows. We all know that there is high volatility that is associated with cryptocurrencies, with high volatility comes a higher chance of making a  lot of money which is good enough for me. I already knew coming into cryptos that it was a risk but it was a risk that I was willing to take.

[caisa88]

What else can you expect from a bank? It's obvious that for them crypto is competition, and they want to diminish it's reputation, and keep people away from it. But we know that crypto is the future, and they will not be able to stop it from growing.

[incomefromcoins]

bank warnings arent new to cryptocurrency industry they are quite common and those who are in crypto are much aware of warning after seeing speculative graph of crypto is currency markets

[Denlv]

In my opinion this is truth,what u want to hear more about crypto many peoples is using crypto for black work,terrorism,speculation and scaming peoples.I dont see anything good happened for the time in crypto history if im not correct please write,how crypto changing world to good side...

[argus312]

Something becomes a lot of such news about the crypto currency, but I still will not give up and will hold!)

[marcripto]

The statements of the Bank of England do not surprise me because the banks are part of the "power group" that is trying in every way to stop the revolution of the world of cryptocurrencies. Banks have a great interest in combating this sector, because with the development of cryptocurrencies they would lose most of their banking transaction revenues