| Cryptocurrency | Price (USDT) |
|---|---|
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| ETH | $2435.7930000000 |
| BNB | $649.5298800000 |
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| LTC | $86.4974000000 |
| LINK | $13.3616800000 |
Category: CRYPTO NEWS
The post Crucial New Rules For UK Banks appeared on BitcoinEthereumNews.com. Get ready for significant changes in the UK financial landscape! The Bank of England (BoE) has signaled its intent to bring about crucial new regulations concerning how banks interact with the volatile world of cryptocurrencies. This move, set to take effect by 2026, is a clear indication that the UK’s central bank is taking a cautious, even restrictive, stance on Banks crypto exposure. If you’re involved in banking, finance, or the crypto space in the UK, understanding these impending changes is essential. What is the Bank of England Crypto Regulation All About? The core of the BoE’s announcement revolves around limiting the risks that banks face when dealing with crypto assets. David Bailey, the BoE’s executive director for prudential policy, highlighted the central concern: cryptocurrencies are an asset class where investors can potentially lose their entire investment. This inherent volatility and risk profile necessitate a more controlled environment for institutions holding public deposits and maintaining financial stability. The plan is to introduce a specific regulatory framework by 2026. This framework will likely build upon international standards being developed by bodies like the Basel Committee on Banking Supervision (BCBS), which has been working on how banks should treat exposures to crypto assets. Here’s a breakdown of the key points from the initial announcement: Target: Banks and other prudentially regulated firms in the UK. Scope: Exposure to unbacked crypto assets (like Bitcoin or Ether) and potentially stablecoins and tokenised traditional assets. Timeline: Regulations expected to be in place by 2026. Rationale: High risk of loss for investors, potential for financial instability if banks have significant exposure without adequate safeguards. Approach: Described as ‘restrictive’ by the BoE. Why is the BoE Focusing on Banks Crypto Exposure Now? The move towards stricter UK crypto regulation isn’t happening in a vacuum. Several factors are driving…
2025-06-19T02:41:09+00:00