BOE's Carney says it's possible cryptocurrencies will transform financial system in the future
More comments by Bank of England governor Mark Carney after his speech earlier
- Says that if you own cryptocurrency, you don't own the underlying technology
- Generation of people investing in cryptocurrencies doesn't have memory of financial crisis
- Says whenever you have a bubble, people who are in later pay the heaviest price
- Says that regulation of cryptocurrencies can be done if there is a will, it would be relatively straightforward
- Cryptocurrency regulation will remain a national issue for some time
- Most cryptocurrency issues are not a financial stability board issue right now
Similar comments to that voiced earlier here by the man himself.
Continues to hint that the general view of cryptocurrencies is that of a bubble and that regulation is much needed in the space. His first comment is a view that is shared similarly among financial institutions and central banks, in that the blockchain technology is the more keen area of interest that could shake things up in the financial system.