Bank Of England Calls For Cryptocurrency Crackdown

RT – March 2, 2018: Digital currencies are failing as a means of exchange and demonstrate all the signs of a classic bubble, according Bank of England (BoE) Governor Mark Carney, who called for tighter regulation. (BattleForWorld: They are not failing as a means of exchange. The central banks are resisting them because they challenge the central banks. And because cryptocurrencies at the moment are not regulated they are going to be abuses.)

“Cryptocurrencies act as money, at best, only for some people and to a limited extent, and even then only in parallel with the traditional currencies of the users. The short answer is they are failing,” he said in a speech at a Scottish student economics conference.

“At present, crypto-assets raise a host of issues around consumer and investor protection, market integrity, money laundering, terrorism financing, tax evasion, and the circumvention of capital controls and international sanctions,”  Governor Mark Carney said.