Libra, Bitcoin and the Regulator

“The publicity surrounding Libra helped boost the price of cryptocurrencies. Bitcoin traded above $13,000, its highest level in 18 months, rekindling fears about a bubble in the market.” Meanwhile, Mark Carney, the governor of the Bank of England, said that Libra could become “systemic” and would “have to be subject to the highest standards of regulations” in line with words by Randal Quarles, the head of the Financial Stability Board, who warned that the use of “cryptoassets” deserves “close scrutiny.”

The Economist, 29th June 2019