Digital currencies were a topic of interest at the latest U.K. Parliament Treasury Committee meeting. Enthusiasm for them, however, was muted.
Bitcoin (BTC) is “not taking off” and losing momentum as a payment method because of its inefficiency, Bank of England (BOE) Governor Andrew Bailey told the United Kingdom Parliament Treasury Committee on Jan. 10.
Bailey and BOE Deputy Governor Sarah Breeden appeared before the committee to discuss the BOE’s latest Financial Stability Report.
Bailey repeated his assertion that unbacked cryptocurrency has no intrinsic value. Furthermore, he said:
