Cryptocurrencies
Cryptocurrencies Not Good Medium for Payments, BOE Chief Says
- Governor Andrew Bailey takes a fresh swipe at digital tokens
- Warns buyers of coins are at risk of losing all their money
Andrew Bailey speaks virtually during the Jackson Hole economic symposium in 2020.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Bank of England Governor Andrew Bailey warned against using cryptocurrencies for payments, taking another swipe at digital tokens.
“They fluctuate in value substantially,” he told a virtual conference on Monday. “Which is why they’re on the whole not a good medium for making payments.”