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Bank of England’s Governor takes issue with cryptos’ use for ‘illegal activity’
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Bank of England Governor Andrew Bailey is in the news today after he raised concerns about crypto-assets potentially helping illegal activity. According to reports, he claimed that its widespread acceptance as a “form of payment” is also helping criminals and scammers. Speaking at an event, he said,
“I’m afraid that the advent of digital means of payment, and in particular crypto assets… is providing another means of payment for people who want to conduct criminal activity.”
It’s worth noting here that the combined crypto-market cap surged past $3 trillion recently. Popular news personality Jim Cramer also reportedly argued that the asset class has been gaining “credibility.”
Even so, recent reports of crypto-scams with the help of Google
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