The head of the Bank of Canada admitted that he does not sleep at night because of cryptocurrencies
During a speech at a meeting of the Canadian Club, Bank of Canada Governor Stephen Poloz spoke about various issues of concern to him. According to Poloz, the unregulated nature of bitcoin and altcoins makes them “more like a gamble than an investment.”.
“There is one more thing that keeps me awake at night and that might be worth mentioning. I’m talking about all this noise around cryptocurrencies, ”he said..
The rapid rise in cryptocurrencies has become another cause for concern among bankers, who have moved to an active search for solutions that could help them cope with the huge number of investors interested in an alternative financial system..
Some people do it better than others. So, in the United States, some certainty is already emerging, at least at the institutional level, while European countries continue to doubt.
Poloz went on to talk about the issue, stressing that Canadians should be respectful of the banknotes that the central bank issues for them..
“One question that interests me is: What does the arrival of cryptocurrencies mean for the cash in your pockets?” He added. “Many people forget that the only reliable means of payment is money issued by the central bank.”.
Recall that earlier the Securities Commission of Canada announced its intention to promote the development of cryptocurrencies and ICO.
Photo: Tero Vesalainen
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