Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Rain075 on February 11, 2021, 11:43:35 PM
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In his recent speech, Bank of Canada Deputy Governor Timothy Lane claims that cryptocurrencies are unlikely to become the money of the future.
He called private digital currencies of the likes of Bitcoin “deeply flawed” as a means of payment. Lane states that they are mainly used for criminal purposes:
They [cryptocurrencies] are deeply flawed as methods of payment—except for illicit transactions like money laundering, where anonymity trumps all other features—because they rely on costly verification methods and their purchasing power is wildly unstable. Source url link (https://cryptonews.net/466699/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)