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Belgian Central Bank notes crypto 2022 turbulence failed to impact TradFi

Belgian Central Bank notes crypto 2022 turbulence failed to impact TradFi 3

In the Financial Year 2022 review, the Belgian Central Bank confirmed that last year’s turbulence in the crypto sector failed to impact the traditional financial system.

Crypto 2022 was a very bad year because several crypto companies collapsed & many of them filed for bankruptcy. The top crypto projects & platforms that collapsed last year were FTX exchange, Alameda Research, BlockFi, Celsius, Terra (Luna) & UST, and Voyager Digital.

Recently the Belgian Central Bank released its review of the Financial Year 2022. Reportedly Central Bank Governor Pierre Wunsch said that the implosion of crypto companies in 2022 was really good news for “us”.
The report noted that “us” referred to all the financial regulators of the country. According to the governor, the crypto industry did work for the regulators themselves.

“The crashes ultimately took place without any impact on financial stability. So the problem solved itself,” the central bank governor said.

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Bank’s 2022 financial review noted that there was some significant interaction between the cryptocurrencies & traditional financial sector but the implosion of the crypto sector failed to impact the traditional financial system. In short, the impact was very small.

Few experts noted that Belgium’s central bank working on the Central Bank Digital Currency (CBDC) and also the stance of the Central Bank toward the crypto sector was never neutral.

Bitcoin price

The current trade price of Bitcoin (BTC) is $22,450 & this trade price is 5.68% low than the last 24 hours’ trade price.

Belgian Central Bank notes crypto 2022 turbulence failed to impact TradFi 2

To this date, Bitcoin is down by 67.5% from its all-time high, which is $69k. Now crypto experts are expecting to see Bitcoin hit $100k in 2024.

Read also: Institutions showing significant Inclination toward altcoins along with ETH & BTC

Belgian Central Bank notes crypto 2022 turbulence failed to impact TradFi

 

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