The bank of England governor carney called for increased regulation of encryption currency, called encryption monetary huge price fluctuations are "speculative fever".
Carney said in a speech on Friday: "now is encrypted monetary assets ecological system consistent with the other financial system. As part of the financial system will bring the privilege, but must also assume responsibility accordingly.
He also talked about the potential of block chain technology, can improve the accuracy of the payment, clearing and settlement, efficiency and safety. However, carney said around encryption currency "speculative frenzy" means that need to be further regulation. "A better approach is to standardize encryption elements of ecosystem assets, to crack down on illegal activities, promote market integrity, to protect the financial system safe and sound." Karni said.
When asked if the world will promote the digital currency regulation, carney said adjustments may be country by country. Carney also lashed out at encryption currency in the ability to perform the role of monetary, think he encryption money is a medium of exchange, "failed" and they "proved poor short-term storage of value".
Carney also pegged to the encryption of money market volatility, he said: "in fact, in 2017, according to the market value of the top 10 average volatility of the encryption of currency is the U.S. stock market more than 25 times" carney said, "this extreme volatility in a certain extent, reflects the encryption money has no intrinsic value and no any external support, their value depends on their expectations of future supply and demand."
Many encryption currency lovers compared the currency to gold, because of its limited supply, need digital "mining". But its price up to $19000 last year, and in February of this year fell below $6000, it makes a lot of people will call it a bubble, including carney.
Carney said that the bank of England's monetary policy committee is considering encryption currency pose a risk to the financial stability. But given the encryption currency markets on a smaller scale, compared with global GDP, do not seem to be risky. "Right now, I think, encryption assets does not seem to pose serious risks to financial stability, but must be given the increased risk of future financial situation." Karni said.