September 19, 2021

The next chapter of the Bank of England: “Buyers of bitcoins should be prepared to lose all their money”

The next chapter of the Bank of England: “Buyers of bitcoins should be prepared to lose all their money”

Andrew Bailey, who will soon head the Bank of England, once again warned investors that buying a cryptocurrency could result in a loss of funds.

Previously, Andrew Bailey was the Deputy Governor of the Central Bank of Great Britain, but was recently appointed as his next manager. He is due to take office on March 16, 2020.

Speaking to the British Parliament on Wednesday, Bailey reaffirmed his previous position on the cryptocurrency market.

According to him, the value of Bitcoin cannot be guaranteed by anyone. it has no real intrinsic value, so those who want to buy it must well understand that in the end they can lose all their money.

It seems that the next chapter will revise the policyBank of England regarding cryptocurrencies and stablecoins. Since the retiring Mark Carney had previously proposed replacing the dollar with a single international digital currency, and the regulator under his leadership actively studied the CBDC and was ready to compromise with Libra.

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