BoE’s Bailey Warns Against Cryptocurrencies

The Bank of England (BoE) Governor Andrew Bailey has expressed concerns about getting carried away in financial technology and innovation.

His remarks came in a speech to the British Parliament’s Treasury Committee on Monday.

“I do not want to be seen as a Luddite. I’m skeptical about crypto assets frankly because they are dangerous and there’s a huge enthusiasm.”

Bailey believes that investors need to pay attention to the underlying assets they create.