The Bank of England: the rapid growth of bitcoin does not pose a threat to financial stability

According to the chief Manager of the Bank of England (BoE) Mark Carney (Mark Carney), the rapid growth of bitcoin prices does not pose a threat to financial stability. Speaking in the British Parliament, Carney said that the recent significant changes in bitcoin prices pose risks comparable to the change in the stock price.

«At the moment bitcoin is not considered as a threat to financial stability,» — said the head of the Bank of England.

Kearney noted that the total capitalization of bitcoin and other cryptocurrencies is today approximately half the market capitalization of Apple.

In his speech, Carney stressed that the technology of the blockchain has a number of advantages, one of which is the acceleration of transactions between financial institutions.

The output of digital currency by the Central Bank poses a “fundamental problem”, because there is no limit on the amount of the issue currency which can hold people. However, he adheres to the idea of promoting DLT technologies, including through its own FINTECH accelerator.

The Deputy Governor of the Bank of England sir Jon Cunliffe (Jon Cunliffe) noted that the capacity of the cryptocurrency market «is not the same size as to represent a macroeconomic risk for the world economy».

Добавить комментарий