Bank of England Governor Warns of Crypto’s instability, Marks it as a “Threat”

Bank of England’s deputy governor, Sir Jon Cunliffe has reinstated the traditionally conservative stance towards the decentralized sphere, claiming that crypto is becoming a greater threat to the global financial stability with each passing day, given the impeccably rapid growth of the industry. During BBC’s Today program this Monday, Cunliffe was invited to discuss cryptocurrencies like Bitcoin, however, he ended up urging the regulators to take immediate action against crypto. He noted that crypto is getting incorporated into the traditional economic system and before it takes over, the regulators should take action.