January 24, 2019 / 5:58 PM / 4 months ago

BoE's Carney says cryptocurrencies unlikely to revolutionize financial sector

Mark Carney, Governor of the bank of England, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 24, 2019. REUTERS/Arnd Wiegmann

DAVOS, Switzerland (Reuters) - Bank of England Governor Mark Carney said on Thursday that cryptocurrencies were unlikely to revolutionize the financial sector because they were more like assets than currencies.

“On crypto, it’s not going to disrupt, because they’re not crypto-currencies. They’re at best crypto-assets, but they’re really not going anywhere,” Carney said at a panel discussion at the World Economic Forum in Davos.

Reporting by Alessandra Galloni, writing by Andy Bruce; editing by Stephen Addison

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