The Bank of England, through its Prudential Regulation Authority (PRA) division, requests detailed information from companies about current and planned activity in the field of cryptocurrencies. This step is aimed at assessing the impact of crypto assets on the financial stability of the country and developing regulatory measures to minimize risks.

The request asks companies to provide data on their use of cryptocurrencies, the application of the Basel Framework for risk management and plans in this area until 2029. Special attention is paid to open blockchains and the risks associated with the transparency of transactions and the lack of guaranteed finalisation of settlements.

This initiative reflects the Bank of England's commitment to ensure a balance between innovation and financial stability in the fast-growing crypto sector.