‘Guard rails’ must be set up to protect crypto currency in Britain after the record $6.3billion hack, the Bank of England‘s former Deputy Governor said on Saturday.
Sir Jon Cunliffe added, following last week’s attack on the world’s largest crypto exchange Binance, that the technology was growing and would become closer to mainstream banking systems.
‘We are seeing with social media platforms how difficult it is to retrofit regulation if you don’t actually put the guardrails in early on,’ he warned.
But he also stressed that as Binance was not authorised or operated in the UK, ‘we were not yet’ at the point
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