Tag: cryptocurrency

Ethereum Grew Tenfold Over The Last Year November 4, 2021—Cryptocurrency assets grew by roughly 200 percent, from just under $800 billion to $2.3 trillion, according to Jon Cunliffe, Deputy Governor for Financial Stability of the Bank of England. The rapid growth in the takeup of the asset is grabbing the attention of regulators around the world. "When something in the financial system is growing very fast, and growing in largely unregulated space, financial stability authorities have to sit up and take notice," Cunliffe said, in an October speech. He added that regulators shouldn't overreact. "We should not classify new approaches as 'dangerous' simply because they are different." Institutions Are 'Just Getting Started' Meanwhile, as the assets go mainstream, some of the hold...

As virtual currencies like Bitcoin, Ethereum and Ripple rise in use and value, government regulators around the world are paying closer attention, issuing consumer warnings, and are looking for ways to regulate them. The international nature of virtual currencies, also called cryptocurrencies, allows them to operate outside the reach of national governments. But increasingly, regulators are considering ways to oversee the exchanges or, in some cases, ban them. The Rise and the Risk Cryptocurrencies are gaining in popularity and in dollar terms. The combined value of cryptocurrencies reached $800 billion earlier this year before falling down to $433 billion. In the past five years, Bitcoin's value alone rose from $5 billion in 2013 to $115 billion in 2018. Observers say the wild flu...