Controversy renewed in Western countries about encrypted digital currencies and their future, and whether these countries are likely to place restrictions on their trading, which may constitute a blow to them, after the restrictions imposed by China on these currencies during the current year, and the warnings it issued recently, which will increase the chances that they will expand. restrictions and for other countries to join them.
According to Arabiya Net, according to a report published by the Daily Express newspaper, the question that has become a subject of discussion in Western countries is whether it is possible for central banks in these countries to ban cryptocurrencies in the near future.
The report said that China, through the People's Bank of China, imposed restrictions on cryptocurrencies several times during the year 2021, especially Bitcoin, and the bank also presented a new threat along with Ten other government agencies last month, reiterating his position that he considers all cryptocurrency to be illegal.
According to the report, the currently booming cryptocurrency market in the West, especially in the United States, is witnessing a debate over whether central banks in Western countries will take any measures to restrict it or not. No.
The popularity of these coins has allowed some people to make millions of dollars, but market volatility and emerging scams have caused others to lose just as much, the report says.
According to the newspaper, the most prominent figure in the cryptocurrency market in Britain is Sir Howard Davies, who is the head of NatWest Bank, and is one of the most prominent figures in the London financial district.
Davies, who previously served as deputy governor of the Bank of England and head of the Financial Services Authority, said he is very hostile to virtual currencies.
Speaking to the Center for the Study of Financial Innovation in a TV interview, he praised what he called China's instinct to ban damned things.
Davis called cryptocurrency trading gambling, then warned that the market should come with a big sign warning on the door saying: Abandon hope for all who enter here. .
The Daily Express says Sir Howard's position is not as strange as it appears to match warnings issued by other financial authorities in Britain.
Institutions such as the Financial Conduct Authority (FCA) have warned people that they risk falling victim to scammers or losing money to market machinations, but the FCA has not recommended a ban. on cryptocurrencies.
Some experts believe the regulator intends to warn consumers about the risks inherent in cryptocurrency trading, according to the paper.
