Bank of England Governor Bailey says cryptocurrencies are 'dangerous'

Known for his reluctant stance on decentralized money, Bank of England (BOA) President Andrew Bailey recently supported the anti-crypto rhetoric. During a meeting with lawmakers in London, Bailey said cryptocurrencies are “ dangerous ''. In an interview with the UK Parliament's Treasury Committee, Bailey said Andrew Bailey was skeptical of crypto "crypto assets" because the official central bank is suitable for Bitcoin and the rest is a threat to the public. Reuters said in a report that the governor reiterated his longstanding concerns about decentralized digital currencies in his statement Monday. The head of the Bank of England told the committee members: I am frankly skeptical about crypto assets because they are dangerous and there is an enormous enthusiasm. Andrew Bailey's final criticism came after previous statements revealing his negative attitude towards cryptocurrencies. The governor warned in the past that ordinary British people should not deposit cryptocurrency unless they are ready to lose all their money. The chairman of the BOE believes that digital financial assets such as bitcoin do not perform the basic functions of a standard payment method. In early May, the banker said, “I want to underline what I have said over the years. I'm afraid it has no intrinsic value ", but he also acknowledged that people can value them" extrinsically. "And in January, Bailey expressed doubts about the duration of a cryptocurrency. The governor's report raises concerns about growth and inflation. Until recently, compared to other industries suffering from the Covid-19 crisis, negative statements from other public figures, organizations and governments have seriously impacted the cryptocurrency markets, which have lost billions of dollars in value in recent days and weeks. According to Bailey's annual report to the Treasury Committee,

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