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U.K. Banks Warned to Be Careful With Cryptocurrencies

The Bank of England has warned U.K. lenders to study cryptocurrencies before doing business in the space. In a letter sent out to the financial institutions in the country yesterday, the Bank of England Deputy Governor Sam Woods warned financial companies to take appropriate steps to protect themselves against “exposure to crypto-assets” which he believes are susceptible to “fraud and ...

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SEC Chair’s Written Testimony Hints at Moderation for Cryptocurrencies, but ICOs Be Warned

The written testimony from Jay Clayton, chairman of the United States Securities and Exchange Commission (SEC), was released on February 5, 2018. It comes ahead of the chairman’s oral testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs on February 6, 2018, on the matter of “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange ...

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Bitcoin fever to burn out in ‘spectacular crash,’ David Stockman warned

First it was the stock market. Now, it’s bitcoin. David Stockman, President Ronald Reagan’s former director of the Office of Management and a relentless Wall Street bear, is warning investors that the cryptocurrency boom will end disastrously. “It’s basically a class of really stupid speculators who have convinced themselves that trees grow to the sky,” he told CNBC’s “Futures Now” ...

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