Ireland’s Central Bank will not allow retail funds to own cryptocurrency
The regulator has repeatedly focused investors’ attention on the fact that they should be prepared to lose their deposits
09.02.2022 - 09:55
277
1 min
0
What’s new? The Irish Central Bank is very likely not to allow investment funds to hold crypto assets. As in a number of countries, the regulator notes that digital currencies carry a high level of risk that can harm investors. The Central Bank stated this in its annual securities markets risk report.
Report of the Central Bank of Ireland
What does the Central Bank representative say? Patricia Dunne, the Central Bank’s Director of Securities and Market Supervision, said:
“There are too many unanswered questions around things like custody, and money laundering, and even just volatility and liquidity.”
The regulator’s representatives have repeatedly focused investors’ attention on the fact that they should be prepared to lose their funds if they continue to invest in cryptocurrencies.
What was the prerequisite for the ban? Dunne’s comments came after the Central Bank published its outlook on risks in the securities markets for 2022. The report warns that companies should be cautious about issues related to misconduct, financial innovation, and cyber security.
Useful material?
Incidents
Roger Ver has been accused of not paying taxes
May 1, 2024
Mining
After the publication of the financial report, the company’s shares added 5%
Apr 30, 2024
Market
The commission had previously warned the developer of potential enforcement actions
Apr 29, 2024
Market
Funds can be seized by law enforcers due to links to illegal activity
Apr 26, 2024
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024