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Cryptocurrencies failing as money, but technology has promise — Carney

Cryptocurrencies are failing as money — Bank of England's Carney

LONDON (March 2): Cryptocurrencies such as Bitcoin are failing as a form of money and have shown clear signs of being a financial bubble, but their technology could improve the financial system in future, Bank of England Governor Mark Carney said on Friday.

Carney joined a chorus of concern among global policymakers over the rise of digital currencies, saying authorities needed to prevent their use by criminals and new rules were needed to treat them like other assets.

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