The Bank of Canada: bitcoin could destabilize the global economy

The Bank of Canada: bitcoin could destabilize the global economy

  

The Bank of Canada announced the day before the annual spring review report, the report includes a review of data and digital currency bitcoin; the Bank of Canada that bitcoin may threaten the stability of the financial industry, but the future trend of bitcoin will develop into a wide range of means of payment.
The investigation report said: “bitcoin may be a potential risk of financial stability, especially the current bitcoin is no regulatory norms, without a centralized distribution departments, users must bear all the risk, there is no legal recourse. “
The Bank of Canada in the final recognition report bitcoin has the potential to revolutionize financial services in some key areas, with particular emphasis on the advantages of bitcoin, bitcoin transaction costs lower than credit card transactions, to the center of the elimination of the traditional financial intermediary.

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