Cryptocurrencies aren’t financial state risk, but likely to be regulated: Carney
TORONTO — Bank of England governor Mark Carney says cryptocurrencies aren’t a risk to the financial state, but he thinks they will be subject to some form of regulation.
The former Bank of Canada governor and so-called rockstar of finance says cryptocurrencies pose a challenge for market integrity because “a huge amount” of illicit activity is run through them.
His remarks came as he spoke to business heavyweights and economy-watchers at the Public Policy Forum’s Canada Growth Summit in Toronto.
Despite the abuses of cryptocurrencies, he says they aren’t a risk to the financial state because they’re still small and not connected to the financial system.