Market news
02.03.2018, 11:49

BoE's Carney -at best, cryptocurrencies only work for some people and to a limited extent, in parallel with traditional currencies

  • Fixed supply of cryptocurrencies such as bitcoin would impart a deflationary bias if widely adopted

  • Cryptocurrencies do not at present pose material risks to financial stability, major uk financial institutions have minimal exposures

  • Cryptocurrencies raise a host of issues around consumer and investor protection, money laundering, terrorism financing and evasion of tax and international sanctions

  • Has open mind about BoE creating its own digital currency, but does not appear to be a near-term prospect

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