Bank of England Governor Mark Carney said bitcoin has pretty much failed as currency as its value is unstable and it cannot be a useful way to buy things. "It has pretty much failed thus far on ... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange," he told students at Regent's University in London. more...
The manufacturing sector in New Zealand continued to expand in January, and at an accelerated pace, the latest survey from Business NZ revealed on Friday with a Manufacturing PMI score of 55.6. more...
The first meeting of the G20's Digital Economy Task Force is being held in Buenos Aires on February 8 and 9. German and French finance ministers and central bank governors have sought joint action by the G20 group of advanced and developing countries to tackle the risks posed by cryptocurrencies, reports said Friday. In a letter to the finance minister of Argentina, which holds the G20 presidency now, they have asked the matter to be placed ...
The Northern Territory Racing Commission (NTRC), the Australian regional gambling regulator, is set to ban gambling using cryptocurrency in Australia. NTRC is against adding cryptocurrencies to Australian Gambling Websites. The chairman of the NTRC has reportedly sent out an informal email to all sports bookmakers and betting exchange operators in the Northern Territory asking them to immediately cease and desist from transacting in cryptocurrency. ...
The head of the Bank for International Settlements is forecasting a gloomy future for cryptocurrencies. "While perhaps intended as an alternative payment system with no government involvement, it has become a combination of a bubble, a Ponzi scheme and an environmental disaster," says Augustin Carstens, General Manager of the BIS. He was speaking at Goethe University House of Finance in Frankfurt. more...
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