The head of the Central Bank of UK said that the organization is intensifying its efforts to combat the use of cryptocurrencies in illegal financial activities.
Last Friday during a speech
on the Scottish economic conference in Edinburgh Governor mark Carney (Mark Carney), the President of the Bank of England, said that the sec should apply more stringent rules to prevent illegal use of the cryptocurrency in financial crimes such as money laundering and the financing of terrorism.
«In my opinion, applying the same strict regulations to cryptocurrency exchanges, as organizations that sell traditional assets, will contribute significantly to the development of the regulation of the industry,» said Carney.
Earlier, the head of the Central Bank stated that cryptocurrencies do not carry significant risks for the financial system. However, such risks may increase as expanding the retail use of bitcoin and failure of traditional institutions to upgrade systems.
Last month Carney said that bitcoin «is not held as currency». In his opinion, bitcoin works «only for some people and to a limited extent, and only in parallel with conventional currencies». The Central Bank chief added that he is not against innovations, which are not cryptocurrencies, and argued that the regulation will benefit both industry and consumers.
«The underlying technology of cryptocurrency is already beginning to have an impact on the world. Regulation of cryptocurrencies could potentially stimulate innovative companies to better serve end — users,» he said.
The regulators of England repeatedly expressed its position in relation to cryptocurrency and blockchain. Among the last statements it is possible to note the intention
UK Treasury to regulate cryptocurrency, and also study
cryptocurrency and blockchain initiated by them last month.