• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Technology Cryptocurrency

Bank of England warns banks on approach to adopting crypto

4 years ago
in Cryptocurrency, highlights, Home, home-news, latest News, Technology
1 min read
0 0
0
41
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bank of England warns banks on approach to adopting crypto

The Bank of England’s Financial Policy Committee (FPC) has issued a warning to institutions considering committing to cryptocurrency.

The Financial Stability Committee stated that the growing market for digital assets and their related markets and services has led to increasing integration of crypto into the financial system.

Though the body, which was formed to oversee British financial regulation, does not view the crypto market as an immediate threat to monetary stability, it says the country’s financial sector should be regulated effectively.

The FPC believes the financial system is currently not at significant risk from crypto assets. “To ensure the integrity of our financial system and to manage risks effectively, both domestically and globally, regulatory and law enforcement frameworks need to keep pace with developments in these rapidly growing markets,” the FPC stated.

Financial institutions looking to adopt crypto are asked to contact the group for advice on how to proceed.

Read: Low-income country debt rises to record $860 billion in 2020

RelatedPosts

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

“The FPC will continue to monitor developments in the crypto assets market, including its relationship with the UK’s financial system, and seek to prevent further systemic risks from emerging,” it said.

To adopt these assets, financial institutions should adopt a cautious and prudent approach, the FPC believes.

Nevertheless, Hester Peirce, SEC commissioner, recently discussed cryptocurrency regulation. Crypto community members refer to her as “crypto mom” for her wisdom and support in the field.

The top-ranking SEC commissioner said that truly decentralized projects are challenging to regulate.

Taking into account that “decentralized finance carries within itself inherent self-regulation qualities,” the commissioner noted the need to take that into account when developing a regulatory framework.

Tags: Bank of England warns banks on approach to adopting cryptoBank of England’s Financial Policy Committee (FPC)cryptocurrency.
No Result
View All Result

Highlights

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Tullow Oil Posts $61 Million Loss for H1 2025 on Lower Oil Prices, Reduced Output

A Turning Point for Ghana’s Payments Industry: Why Clara’s Appointment at GHiPSS is Exactly What the Future Demands 

Appiah Adomako Writes: Why Government Must Take Interest in Who Acquires Shoprite Stores in Ghana

Trending

Features

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open Naomi Osaka and Madison Keys both secured their...

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 2025

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

August 6, 2025

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

August 6, 2025

Kwaku Azar Writes: Is Another SML Brewing at GACL?

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.