The collapse of cryptocurrency exchange FTX highlights the need to bring the crypto world into the regulatory framework, according to Bank of England Deputy Governor Jon Cunliffe on Monday. FTX, which has filed for bankruptcy in the United States, has stated that it owes nearly $3.1 billion to its 50 largest creditors. “While the crypto world is not yet large enough or interconnected enough with mainstream finance to threaten the stability of the financial system, as demonstrated by last year’s crypto winter and last week’s FTX implosion, its links with mainstream finance have been developing rapidly,” Cunliffe said.
