Bank of England issues regulatory framework for cryptos

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The Bank of England report released last week mostly follows the existing regulatory framework as means to mitigate risks that come with crypto technology

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The Financial Policy Committee (FPS) also embraced the Treasury's proposal to regulate stablecoins, bringing banks into that process

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Treasury's proposal was in favour of accommodating international efforts to regulate DeFi applications.

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With the growing popularity of cryptocurrency, central banks around the world are expediting the regulation of the booming industry.

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Bank of England published reports on financial stability relating to crypto-assets and decentralised finance (DeFi)

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The Indian government recognised cryptocurrencies too and imposed a flat 30 percent tax on profits from digital assets beginning in April.

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Earlier this month, US President Joe Biden released the long-awaited cryptocurrency and digital asset executive order, which has received mostly positive reactions from industry veterans.

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El Salvador has even adopted Bitcoin as a legal tender and citizens can use it to complete everyday transactions.

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Top 10 most-trusted cryptocurrency wallets to safeguard saving

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