BoE’s Regulatory Arm Warns Financial Firms of Crypto-Assets Risks
Posted: Wed Jun 27, 2018 9:24 pm
The UK Prudential Regulation Authority today issued a letter to CEOs of banks, insurance companies and investment firms to advise them about the risks associated with “crypto-assets”. The PRA’s letter has provided the financial operators with guidelines to improve their oversight, increase scrutiny and enhance due diligence checks.
The regulatory arm of Britain’s central bank acknowledged that to date “firms may have taken limited exposure to crypto-assets,” and that the blockchain technology has “significant potential to benefit the efficiency and resilience of the financial system over time.”
[url=https://simplefx.com/dashboard/?utm_source=financemagnates.com&utm_medium=pr26062018&utm_content=SFX&utm_campaign=FXmedia]Time to buy the dip?[/url]
However, the PRA said that the ... (read more)