>> It's a BitCoin takedown Bank of England style. Mark Carney, head of England Central Bank, called BitCoin a failure Monday. Quote, it has pretty much failed thus far on the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange.
Carney is the latest Central Bank official to try and throw water on the controversial asset, prone to huge swings, and regulators aren't alone. Several top US lawmakers revealed to Reuters a bipartisan plan to crack down on cryptocurrencies' vis-a-vis stricter federal oversight. The price of BitCoin currently hovers around $11,000, but that's down 43% from its record high above $19,000.
While Carney may not be a fan of Bitcoin, he does see value in the blockchain technology that underlies cryptocurrenicies. Telling an audience it could be used as a way to verify financial transactions in a decentralized way.