BoE Official Calls For Crypto Regulation, Says Cryptocurrencies Have No “Intrinsic Value”

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Bank of England officials have renewed their warnings about cryptocurrencies. BoE Deputy Governor Jon Cunliffe compared them to unsafe airplanes. He added that although technology can impact the way the risks associated with finance are managed and distributed, it can’t eliminate them completely. The bitcoin price is now down by more than 70% from the record high it reached in November, and it remains firmly below $20,000 on Wednesday. According to data from CoinDesk, the cryptocurrency hasn’t been priced this low since December 2020. BoE Calls For Regulation On CryptocurrenciesAccording to CN…

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