The Bank of England says “extreme volatility” in the crypto market “underscores the need for enhanced regulatory and law enforcement frameworks.” The British central bank has warned that crypto prices could fall further. Bank of England Calls for Enhanced Crypto Regulation The Financial Policy Committee of the British central bank, the Bank of England (BOE), said Tuesday that the “extreme volatility” in crypto prices in recent months underscores vulnerabilities in the crypto market, Bloomberg reported. Citing a $2 trillion reduction in the total market capitalization of crypto assets, the Bank of England stressed the need for tougher law enforcement and regulation for the crypto sector, the publication conveyed. The market cap of all cryptocurrencies currently stands at about $1 trillion. It was nearly $3 trillion at its peak in November last year. Last month, Agustin Carstens, the general manager of the Bank of International Settlements (BIS), said all the weaknesses in the cryp...
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