Bank of England Cryptocurrencies Are Dangerous


The Governor of the Bank of England continues to express serious concerns about cryptocurrencies, telling MPs they are dangerous

The governor of the Bank of England (BoE) Andrew Bailey, has once again expressed his concern about digital currencies.

Andrew Bailey is known for his reluctant stance on decentralised money, and last week had a very blunt warning for people investing in cryptocurrencies. He said cryptocurrencies “have no intrinsic value” and people should only buy cryptocurrencies if they are prepared to lose all their money.

But now he has gone one step further and reiterated his long-standing concern when Reuters reported that he said cryptocurrencies and similar assets were a danger to the public.

Dangerous crypto?

Bailey made his comments whilst speaking to lawmakers on Monday in London, during which Bailey stated that cryptocurrencies are “dangerous.”

“Crypto-assets,” as the central bank’s official labels bitcoin and the…

Read more…