The bank cited the “fire sales” of purported stablecoins as one of the key risk factors leading up to the crash. The bank also expressed concerns regarding the “systemic risks” associated with the marriage between cryptocurrencies and the broader financial market.
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U.K. Central Bank Points to Crypto Crash As It Calls for New Regs: Report
The Bank of England is calling for tougher cryptocurrency regulations in the wake of heavy losses—more than $2 trillion in the space—in its newest financial stability report. So reports the Associated Press.
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