‘Unregulated’ Crypto sector crash may have recession-level impacts, suggests Bank of England Deputy Chief - AML Intelligence
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‘Unregulated’ Crypto sector crash may have recession-level impacts, suggests Bank of England Deputy Chief

By Dan Byrne for AMLi

A cryptocurrency crash may have the potential to cause an economic meltdown on the scale of the late-2000s recession, the Bank of England deputy chief has said.

Speaking at this year’s Sibos conference, John Cunliffe, Deputy Governor of the UK’s central bank, said that parallels existed between the growing crypto bubble and the global housing bubbles that burst in 2007/2008.

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