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Cryptoassets & Blockchain Legal News

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Bitcoin has no economic basis says Bank of France Governor

December 4, 2017 by Ashley MAO

The Governor of the Bank of France, Francois Villeroy de Galhau, claims that Bicton not only is “speculative” but it’s not considered currency or digital currency.   

The governor expressed his views at an event in China where he was quoted saying that investors consider Bitcoin at their own risk and that it has no economic basis whatsoever.

“Its value and extreme volatility have no economic basis, and they are nobody’s responsibility. The central bank warned that those buying Bitcoin “do so entirely at their own risk.” de Galhau said.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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