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The Bank of England Tightens Regulation: Crypto Exposure Reporting Required Before March 2025
Strengthening Crypto Oversight
The Bank of England has just required financial businesses to report in detail about their exposure to #crypto and future plans by March 24, 2025. This request aims to strengthen financial stability and build a clearer legal framework for crypto-related activities.
This move arises from the growing concern about the risks that digital assets may pose to the financial system. According to directives from the Prudential Regulation Authority (PRA), businesses must provide information on:
The Bank of England has just required financial businesses to report in detail about their exposure to #crypto and future plans by March 24, 2025. This request aims to strengthen financial stability and build a clearer legal framework for crypto-related activities.
This move arises from the growing concern about the risks that digital assets may pose to the financial system. According to directives from the Prudential Regulation Authority (PRA), businesses must provide information on:
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