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BOE's Woods tells financial firms to exude caution when it comes to crypto assets

BOE's Woods tells financial firms to exude caution when it comes to crypto assets

Cryptocurrency
Justin Low
28/06/2018 | 09:16 GMT

BOE member Sam Woods with some comments

  • 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

A central banker warning about cryptocurrencies? What else is new, eh?

Meanwhile, today's trading in the crypto space has been a little subdued with Bitcoin virtually flat near the $6,000 to $6,100 levels. The same kind of price action can be observed among the other majors like EOS, Ripple and Ethereum as well.

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