Cryptocurrencies

BOE Says Crypto Needs Tougher Rules After $2 Trillion Drop

The market capitalization of digital assets has tumbled to about $900 billion.
Photographer: Milan Jaros/Bloomberg

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By William Shaw and David Goodman

July 5, 2022 at 9:30 AM UTC

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The Bank of England said a $2 trillion plunge in the value of cryptoassets underscores vulnerabilities in the market and the need for tougher law enforcement and regulation.