According to Jon Cunliffe, deputy governor of the Bank of England, financial restrictions should be extended to crypto before the business grows large enough to potentially undermine broader financial stability. Cunliffe has previously stated that regulators should expedite efforts to develop clear crypto standards. However, “the greater impact on the financial system may well come from the transfer of technologies developed in the crypto world to the ‘real’ world,” Cunliffe said in London on Wednesday at the Association for Financial Markets in Europe’s Operations, Post Trade, Technology, and Innovation Conference.
