Deputy Governor of the Bank of England: cryptocurrency cannot be used as a "value store"

Deputy Governor of the Bank of England: cryptocurrency cannot be used as a "value store"

According to cnbc.com, Dave Ramsden, deputy governor of the Bank of England (BOE), said in an interview that the encryption assets are too unstable to be value stores.

Ramsden pointed out that a year ago the UK Financial Policy Committee (FPC) concluded that the volatility of cryptocurrencies meant that they could not be value stores. In addition, FPC also concluded that cryptocurrency is not a practical medium of exchange because its transaction costs are too high.

Ramsden told CNBC that FPC claims that cryptocurrencies do not conform to the definition of currency and pointed out that due to the small size of the market, they will not pose a threat to financial stability. In the interview, he said that the conclusion of FPC is still valid today. (than push)

In January of this year, Huw van Steenis, a senior adviser to Bank of England employee and Bank of England Governor Mark Carney, said that the cryptocurrency did not pass basic financial tests.

In contrast, 70% of respondents said they prefer digital currency to the Bank of England's Twitter survey on the preferred currency form for Christmas gifts received last December.