Carolyn Wilkins, a member of the Bank’s financial policy committee, told a conference that the crypto industry risked being overtaken by traditional finance players rolling out blockchain technologies, and said the sector should learn from the governance of regulated finance firms to recover faith from investors.
Trust has evaporated in the industry as billions of pounds have been wiped off the value of the market amid a so-called crypto winter, sparking the collapse of a number of high-profile firms including Celsius and Voyager.
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