LONDON (Reuters) – Bank of England Governor Andrew Bailey warned banks and other regulated financial firms on Monday that they should be “especially cautious” about holding volatile crypto assets.
Bailey, speaking at a news conference, said future rules for crpyto assets would balance risk management with the need to support innovation and competition.
“The FPC considers that financial institutions should take an especially cautious and prudent approach to any adoption of these assets until such a regime is in place,” he said after a meeting of the BoE’s Financial Policy Committee.
(Reporting by David Milliken; Writing by William Schomberg; Editing by Huw Jones)
