Bank of Japan Governor Haruhiko Kuroda in an interview flagged the use of Bitcoin which he said is barely for settlement. Central banker has voiced concerns on Bitcoin and its volatility adding to a list of officials apprehensive of the crypto space.
- Kuroda called most of the trading “speculative” and the volatility “extraordinarily high.”
- The governor differentiated Bitcoin from stable coins that have assets to back up their value, and mandated to meet legal standards.
- Other central bankers such as Federal Reserve Chair Jerome Powell, European Central Bank Vice President Luis de Guindos, and Bank of England Governor Andrew Bailey earlier warned against investing in crypto.
- Powell last month said cryptocurrencies are vehicles for speculation, de Guindos warned against tokens used as real investments, and Bailey flagged that crypto has no intrinsic value.
BTC/USD is down 7.63%.