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The head of the Bank of England, Andrew Bailey, has repeatedly stated that he has a negative attitude towards Bitcoin. In his opinion, cryptocurrency has no value. Its value is growing only because more and more people are investing in it. Each BTC holder should remember that, at any time, he can lose the money invested in cryptocurrency.
However, the Bank of England management also has employees who believe that digital currencies are becoming part of the global financial system. Therefore, it is necessary to accelerate the development of regulatory legislation. John Cunliffe, deputy governor of the Bank of England, is a supporter of this concept.
He spoke to representatives of the Society for Interbank Financial Telecommunications (SWIFT) and pointed out the need for an early implementation of the regulatory framework for the cryptosphere.
Bailey recalled that cryptocurrencies are volatile instruments. However, unlike his boss, the deputy head of the Kingdom’s Central Bank believes that it is impossible to ignore the crypto market. It is necessary to protect investors and make transactions transparent.