header-logo header-logo

Home Login E-newsletter About us
03 December 2021 / Daniel Alexie , Gelu Maravela
Issue: 7959 / Categories: Features , Profession , Cyber
printer mail-detail

Crypto pressures

© Copyright LexisNexis 2026. All Rights Reserved.
66017
Could digital currencies be a catalyst for a financial disaster? Gelu Maravela & Daniel Alexie report
  • Devising a regulatory regime for cryptoassets in the UK, the US, or in other major jurisdictions, will be an incredibly complex process that will take considerable time to implement.

In October 2021, one of the deputy governors of the Bank of England (BoE), Jon Cunliffe, gave a speech in which he identified the ‘justifiable and growing concerns around investor protection, law enforcement and market integrity’ in relation to cryptocurrencies. Mr Cunliffe then proceeded to outline ‘a plausible scenario’ which involved ‘a massive collapse in the price of unbacked cryptoassets’.

To mitigate against such an event, the deputy governor referenced calls made by securities regulators on both sides of the Atlantic such as the CEO of the Financial Conduct Authority and the chair of the US Securities and Exchange Commission—that there is a need for regulation as a ‘matter of urgency’.

Similar warnings have been issued by prominent US figures. Among them the Treasury Secretary, Janet Yellen,

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Read All
Sponsored by
London Solicitors Litigation Association—John McElroy

London Solicitors Litigation Association—John McElroy

Fieldfisher partner appointed president as LSLA marks milestone year

Kingsley Napley—Kirsty Churm & Olivia Stiles

Kingsley Napley—Kirsty Churm & Olivia Stiles

Firm promotes two lawyers to partnership across employment and family

Foot Anstey—five promotions

Foot Anstey—five promotions

Firm promotes five lawyers to partnership across key growth areas

NEWS
Read All
NLJ this week: Divorce ‘nuclear weapon’ freezes assets but entangles outsiders
Freezing orders in divorce proceedings can unexpectedly ensnare third parties and disrupt businesses. In NLJ this week, Lucy James of Trowers & Hamlins explains how these orders—dubbed a ‘nuclear weapon’—preserve assets but can extend far beyond spouses to companies and business partners 
NLJ this week: What counts as ‘rent’? Court says labour alone won’t do
A Court of Appeal ruling has clarified that ‘rent’ must be monetary—excluding tenants paid in labour from statutory protection. In this week's NLJ, James Naylor explains Garraway v Phillips, where a tenant worked two days a week instead of paying rent
Your magistrates’ court needs you!
Thousands more magistrates are to be recruited, under a major shake-up to speed up and expand the hiring process
NLJ this week: Freed but failed—justice system leaves the innocent empty-handed
Three men wrongly imprisoned for a combined 77 years have been released—yet received ‘not a penny’ in compensation, exposing deep flaws in the justice system. Writing in NLJ this week, Dr Jon Robins reports on Justin Plummer, Oliver Campbell and Peter Sullivan, whose convictions collapsed amid discredited forensics, ‘oppressive’ police interviews and unreliable ‘cell confessions’
NLJ this week: Clarity on whistleblowing, settlements and tribunal limits
A quiet month for employment cases still delivers key legal clarifications. In his latest Employment Law Brief for NLJ, Ian Smith reports that whistleblowing protection remains intact even where disclosures are partly self-serving, provided the worker reasonably believes they serve the ‘public interest’ 
Copyright © 2026 LexisNexis
back-to-top-scroll