Bank of England’s analysts say crypto assets could have important roles within the metaverse. “Widespread adoption of crypto in the metaverse … would require compliance with robust consumer protection and financial stability regulatory frameworks,” they added.
Bank of England’s Analysts on the Metaverse, Crypto, and Regulation
Bank of England’s economist Owen Lock and policy analyst Teresa Cascino published a blog post titled “Cryptoassets, the metaverse and systemic risk” Tuesday.
“Cryptoassets could have important roles within the metaverse,” they began, cautioning:
If an open and decentralized metaverse grows, existing risks from cryptoassets may scale to have systemic financial stability consequences.
“Widespread adoption of crypto in the metaverse, or any other setting would require compliance with robust consumer protection and financial stability regulatory frameworks,” they stressed.
Lock and Cascino explained that “The open metaverse will require a means with which to own...
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