Britain wants to tighten regulation of cryptocurrencies

The Central Bank of England (BoE) has called on the government to tighten regulation of virtual assets, all due to the recent market crash.

According to the BoE’s report, due to the increased demand for cryptocurrencies in the UK, the market was analyzed and a number of vulnerabilities were identified, including the risk of a decrease in liquidity.

The bank’s Financial Support Committee also stated that investor confidence in stablecoins has been shaken, especially those with riskier collateral. The Committee believes that stablecoins should meet the same standards of stability and redemption as fiat money from commercial banks, and cryptocurrencies should be regulated more strictly in general.

As a reminder, it is in the UK that cryptocurrency skeptics will meet to prepare for a «war» with cryptocurrencies. As we reported earlier, in the midst of the bear market, industry detractors will gather in London to share their skepticism and talk to lawmakers at their own anti-crypto conference.