The head of the Japanese regulator criticizes bitcoin, and Ray Dalio calls BTC an alternative currency
The head of the Japanese regulator speaks out against bitcoin
The volatility of the main cryptocurrency is “excessively high”. This opinion was voiced by the Governor of the Bank of Japan Haruhiko Kuroda.
“Most of the trading in the cryptocurrency industry is speculation on excessive volatility. It is unlikely that Bitcoin can be used as a means of payment, ” Kuroda said.
But he treats stablecoins differently. According to the Governor of the Central Bank, if stablecoins meet the standards of regulators and have “sound government practices”, then in the future they will turn out to be a convenient payment instrument.
Ray Dalio considers the first cryptocurrency to be an alternative currency
Ray Dalio, founder of hedge fund Bridgewater Associates, is convinced that a clear distinction needs to be made between “digitized” money and alternative digital currencies. At the same time, he called the main crypto-coin an alternative currency.
“Bitcoin is an alternative currency compared to digitalization,” the entrepreneur said.
In his opinion, the digital yuan can become a competitor to BTC, but the state digital currency will not be able to conquer the crypto market. At the same time, the digital dollar will be stable and competitive, the businessman believes.
In the UK, the bank has banned customers from sending funds to crypto exchanges
In the UK, Starling Bank has imposed a temporary ban on its clients from sending funds to crypto trading platforms. The reason is the high risks associated with online financial crime.
However, Starling clients still have the ability to withdraw funds from cryptocurrency exchanges to bank accounts without any restrictions. Starling plans to lift the ban after the end of special checks, which will oblige the bank’s customers to transfer funds to crypto platforms.
Starling’s initiative is not yet widespread. For example, the world’s largest bank Barclays issued a message stating that it does not plan to impose a ban on customers from making deposits on crypto exchanges.