{"id":4179,"date":"2018-03-09T00:00:00","date_gmt":"2018-03-09T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/03\/09\/the-bank-of-england-poised-to-tighten-regulatory-activities-on-cryptocurrencies\/"},"modified":"2018-03-09T00:00:00","modified_gmt":"2018-03-09T00:00:00","slug":"the-bank-of-england-poised-to-tighten-regulatory-activities-on-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/the-bank-of-england-poised-to-tighten-regulatory-activities-on-cryptocurrencies\/","title":{"rendered":"The Bank of England Poised to Tighten Regulatory Activities on Cryptocurrencies."},"content":{"rendered":"
The governor of the Bank of England, Mark Carney has said that Bitcoin has not passed the basic tests of money and that the bank is seeking ways to regulate the cryptocurrencies ecosystem in the country.<\/strong><\/p>\n According to him, the high volatility of cryptocurrencies is a reason for concern seeing that they are getting more popular while being traded on what he believes is chaotic unregulated exchanges.<\/p>\n Carney made the statement on Friday when he said that the unregulated nature of Bitcoin could pose a threat to national economy because of its anonymity, saying that there is a need to tighten control because the digital currency could be a pathway to financing terrorism, narcotics and money laundering activities.<\/p>\n Carney’s call is nothing new among some central bankers and government regulators who have been seeking ways to bring Bitcoin and other cryptocurrencies under the control of regulatory bodies and central banks.<\/p>\n