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​BoE’s Bailey: Have Not Found Design For A Lasting Digital Currency, Cryptocurrencies 'Are Not It'

Mary Liu

Summary: Andrew Bailey, the Governor of the Bank of England commented on crypto in today's Davos-based World Economic Forum. Bailey said that cryptocurrencies will not be lasting and digital innovations in payment should stay in the current situation, he mentioned: "Have we landed on what I would call the design, governance, and arrangements for what I might ...

Andrew Bailey, the Governor of the Bank of England commented on crypto in today's Davos-based World Economic Forum.

Bailey said that cryptocurrencies will not be lasting and digital innovations in payment should stay in the current situation, he mentioned: "Have we landed on what I would call the design, governance, and arrangements for what I might call a lasting digital currency? No, I don’t think we’re there yet, honestly. I don’t think cryptocurrencies as originally formulated are it."

By Mary Liu

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