The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that cryptocurrencies are providing a modern way of payment, but not as currencies, Reuters reported.<\/p>\n\n\n\n
Bailey\u2019s remarks came during an online event organized by the World Economic Forum\u2019s Davos summit on Monday.<\/p>\n\n\n\n
\u201cHave we landed on what I would call the design, governance and arrangements for what I might call a lasting digital currency? No, I don\u2019t think we\u2019re there yet.”<\/p>
\u201cHonestly. I don\u2019t think cryptocurrencies as originally formulated are it.\u201d<\/p>
\u201cThe whole question of people having assurance that their payments will be made in something with stable value … ultimately links bank to what we call fiat currency, which has a link to the state.\u201d<\/p><\/blockquote>\n\n\n\n
<\/p>\n\n\n\n
\u201cWe\u2019re right still to debate stablecoin, we\u2019re right to debate central bank digital currency. Those issues, I think, are very much up for grabs,\u201d Bailey was quoted by CNBC as saying.<\/p>\n\n\n\n
Meanwhile, Bailey questioned the level of privacy provided by the digital currencies.<\/p>\n\n\n\n
\u201cThis is a big one that is coming on to the landscape, the whole question of a privacy standard for transactions made in any form of digital currency, and where the public interest lies.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that cryptocurrencies are providing a modern way of payment, but not as currencies, Reuters reported. Bailey\u2019s remarks came during an online event organized by the World Economic Forum\u2019s Davos summit on Monday. \u201cHave we landed on what I would call the design, …<\/p>\n","protected":false},"author":10,"featured_media":34287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6967,6903],"class_list":["post-40473","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-boe","tag-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=40473"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40473\/revisions"}],"predecessor-version":[{"id":40474,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/40473\/revisions\/40474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/34287"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=40473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=40473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=40473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}