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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.

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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