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Cryptocurrencies are "deeply flawed" - BoC's Lane

Bank Of Canada (BoC) Deputy Governor Timothy Lane described on Wednesday the cryptocurrencies as a "deeply flawed" payment method, calling the recent rise of mainstream cryptos "speculative mania."

NEWS IN ENGLISH 11.02.2021, 08:12
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Cryptocurrencies are "deeply flawed" - BoC's Lane
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Talking at an event hosted by the University of Montreal, Lane asserted that "cryptocurrencies such as bitcoin" aren't likely to be "the money of the future," stressing that only central banks can meet all the criteria needed for the public interest to be upheld.


Touching on the prospects of BoC launching its own digital currency, Lane said that the Covid-19 pandemic has accelerated the bank's efforts.
 

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