English regulator positively evaluated CBDC, while BNY Mellon criticizes BTC

2 min readJul 1, 2021


English regulator gave a positive assessment to CBDC

The emergence of national cryptocurrencies will help reduce the threats posed by financial crises. This will happen due to a decrease in the leverage of banks. Bank of England chief economist Andrew Haldane is confident that the banking industry will change radically in the future.

“The traditional model of banking familiar for over 800 years could be disrupted There could be a differentiation between secure payment-based activities and risky ones associated with lending,” Haldane explained.

Earlier, the head of the Bank of England, Andrew Bailey, said that digital currencies have no intrinsic value. Therefore, it is better for crypto investors to be prepared for the fact that they may lose their savings.

Soros Fund Management clients will be able to make transactions with digital currencies

Soros Fund Management clients will be able to carry out cryptocurrency transactions. According to the media, citing sources, the auction began several weeks ago.

According to sources, the initiative belongs to the investment director of Soros Fund Management Donna Fitzpatrick. Earlier, she expressed the opinion that the growth of the money supply in the United States “is a turning point for bitcoin.”

“The infrastructure around cryptocurrencies is currently very interesting and Soros Fund Management is investing in it,” she said earlier.

BNY Mellon criticizes BTC

BNY Mellon Asset Management believes that the main cryptocurrency is not suitable for most large investors for several reasons. Insight Investment noted the high volatility of bitcoin, as well as its low liquidity, management difficulties, and environmental threats associated with BTC.

According to Francesca Fornasari, head of the currency solutions department, slow and expensive transactions can be an obstacle to the global adoption of the first cryptocurrency. She doubts that Bitcoin can be a payment instrument.

Earlier, BNY Mellon announced the creation of a custodian for digital currencies, CBDC and NFT.