Bank of England calls for cryptocurrency crackdown

Digital currencies are failing as a means of exchange and demonstrate all the signs of a classic bubble, according Bank of England (BoE) Governor Mark Carney, who called for tighter regulation.

“Cryptocurrencies act as money, at best, only for some people and to a limited extent, and even then only in parallel with the traditional currencies of the users. The short answer is they are failing,” he said in a speech at a Scottish student economics conference.