Bank of England Adviser: Cryptocurrencies Fail Basic Financial Tests, Lack Value

Huw van Steenis, senior adviser to Bank of England’s (BOE) Governor Mark Carney, told Bloomberg in an interview Monday, Jan. 21, that cryptocurrencies fail fundamental financial tests.

Van Steenis joined BOE in 2018, having previously worked at Schroders (LON:SDR) and Morgan Stanley (NYSE:MS). He is currently heading a review of the future of finance, according to Bloomberg. When asked about crypto’s potential to become a threat to economic stability, van Steenis said:

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