"Cryptocurrencies Are Failing"; Mark Carney Strikes Again

Canadian banker Mark Carney, governor of the Bank of England, stated that cryptocurrencies are failing, in a speech given to Bloomberg today.
The banker has been known for his anti-bitcoin stance since he said earlier this year that cryptocurrencies have failed. And he is constant in his appreciation. He stated: “The short answer is: they’re failing. Cryptocurrencies are poor stores of value. Over the past 5 years, the daily standard deviation of Bitcoin was 10x that of sterling […] This extreme volatility reflects that the cryptocurrencies have neither intrinsic value nor external backing.”
Regardless of what he said about cryptos, he also called for harsher and clearer regulation for the market, expressing that crypto assets own characteristics make them object of money laundering, tax evasion, and terrorist funding, among other unlawful uses.
Despite all of this he believes in the benefits of the blockchain technology and its applications for the future. But it seems a contradiction to call for more regulation for a “failed” concept that has no intrinsic value; more when the cryptocurrency market is booming.

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