BOE’s Woods warns about risks linked to crypto assets
|The Bank of England (BOE) MPC member Sam Woods is out on the wires now, via Reuters, making some comments on the crypto assets.
Key Points:
Financial firms to exude caution when it comes to crypto assets
Crypto assets have exhibited high price volatility an relative illiquidity.
Many appear vulnerable to fraud and manipulation, and money laundering.
Banks, insurers and funds should have appropriate risk management systems if they invest in crypto assets.
They must have effective risk strategies for dealing with crypto assets.
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