Crypto unlikely to escape regulation, says world’s oldest central bank Riksbank
Regulatory oversight would soon creep into the burgeoning crypto sector even as they currently continue to largely operate in a legal gray area, said the governor of Riksbank, Swedens central bank, on Monday. Risks, money laundering, and crypto Riksbank is the worlds oldest central bank and the third-oldest bank. It oversees monetary policies and Krona issuance in the largely cashless Swedish economy, and has, so far, been generally favorable about the crypto sector. But regulations are coming soon. “When something gets big enough, things like consumer interests and money laundering come into play. So theres good reason to believe that [regulation] will happen,” said Riksbank Governor Stefan Ingves. He added that the rapid growth of cryptocurrencies in the past year—the market rose to a $2.1 trillion market cap at its peak earlier this year—has attracted legal and regulation attention from central banks. This has only risen as institutions like Goldman Sachs and JPMorgan unveiled their own crypto products (and/or interest in such products) this year. Ingves said the regulation of cryptocurrencies “will probably come at different times in different areas,” likely as different countries understand and choose how to (or how not to) integrate cryptocurrencies as part of the central financial system. Go after toolmakers But until such