Browsing: digital currency

In a recent session at the U.K. Parliament Treasury Committee, digital currencies took center stage, albeit with a subdued reception from attendees. BOE Governor Andrew Bailey, alongside Deputy Governor Sarah Breeden, faced the committee to present the BOE’s latest Financial Stability Report. During the discourse, Bailey delivered a blunt assessment of Bitcoin’s viability as a payment method, citing its inefficiency as a key hindrance. “Bitcoin is not gaining traction and is losing momentum as a payment method due to its inefficiencies,” Bailey remarked during the session on Jan. 10. Echoing his previous statements, Bailey emphasized the absence of intrinsic value…

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