The Governor of the Bank of England (BoE) Mark Carney said that Bitcoin could not be considered a legitimate currency definitions, The Telegraph reported on February 19.

At an event at Regent's University in London, Carney claimed that Bitcoin did not meet two major requirements of a traditional currency, claiming that Bitcoin did not meet the demands of a traditional currency. is neither a means of exchange,

"He [cryptocurrency] nearly failed up here on … the traditional aspects of money, this n & # 39; 39; is not a store of value because it's everywhere on the map. " Carney told students of Regent's University of London

However, Carney admitted that the Blockchain technology underlying cryptocurrency "may still be useful" to its decentralized nat re:

"The underlying technology of cryptocurrency can still be useful for verifying financial transactions in a decentralized way "

The argument Whichever cryptocurrency is not ideal for use as a means of exchange is usually done with regards to Bitcoin in particular. On January 24, 2018, the primary payment processor Stripe stopped supporting Bitcoin due to high fees and slow confirmation times. Earlier on December 7, 2017, the Steam gaming platform stopped accepting Bitcoin payments, citing transaction fees of up to $ 20 and high volatility.

The US Internal Revenue Service (IRS) defines virtual currency as a "Digital representation of value that serves as a means of exchange, unit of account and / or store of value " and charges cryptocurrency as property since March 2014.