Bank of England chief slams cryptocurrencies; urges action
March 2, 2018
LONDON (AP) — Bank of England Governor Mark Carney on Friday launched a withering attack on cryptocurrencies such as bitcoin and urged regulators around the world to monitor them in the same way as other financial assets.
In a speech to the Scottish Economics conference in Edinburgh, Carney said a "global speculative mania" has "encouraged a proliferation of new cryptocurrencies" and said they should be held to the "same standards" as the rest of the financial system.
"Being part of the financial system brings enormous privileges, but with them great responsibilities," Carney said.