Fintech

Bank of England fintech chief to ‘crypto bros’: Don’t confuse actual money with returns

Tom Mutton: ‘Some say: ‘What about inflation?’ We turn to them and say: ‘Bitcoin is not exactly doing that well on capital preservation’

Tom Mutton said any CBDC would not fluctuate in value because it is issued by the central bank
Tom Mutton said any CBDC would not fluctuate in value because it is issued by the central bank Photo: Bloomberg via Getty Images

The Bank of England’s head of fintech lashed out at the crypto industry, and assured potential investors that any bank-issued digital currency would be the “safest form of money available”.

Speaking at a Central Bank Digital Currency (CBDC) event in Edinburgh, Tom Mutton did not pull any punches, saying he is “tired of crypto bros” telling him bitcoin is not as polluting as mainstream research has suggested.

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