LONDON (Reuters) - Some crypto-currencies will gain from being regulated but many others will fall by the wayside, Bank of England Governor Mark Carney said on Friday.
Carney said crypto-currencies were failing as a form of money and showed many characteristics of a bubble in a speech earlier in the day, though he added that the technology showed some promise in cutting financial transaction costs.
“I think bringing crypto-currencies into the regulated tent, if you will, some will grow ... many more will fall by the wayside, but that’s a good thing. That’s a level playing field,” Carney said in an interview with Bloomberg TV.
Reporting by David Milliken and Alistair Smout; Editing by Stephen Addison