Bank of England Governor Carney says cryptocurrencies are not currencies, they are assets and not going anywhere
|- Bank of England governor was speaking Davos, providing his view on cryptocurrencies.
- Mark Carney believes that cryptocurrencies are assets and not going anywhere.
The Bank of England governor was speaking Davos, when he was questioned on the cryptocurrency market. Mark Carney has always openly shared his and the central bank’s view when it comes to cryptocurrencies.
He expressed that cryptocurrencies are here to say, however making it clear that they are not currencies. In our previous article we covered his comments earlier in the month, when asked about them via the central bank’s forum on their website.
Carney previously noted, no major high street or online retailer accepts Bitcoin as payment in the UK”. Adding that “the speed and cost of the transaction is slower and more expensive than payments in sterling. For example, Visa can process up to 65,000 transactions per second globally against just 7 per second for Bitcoin”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.