Fixed supply of cryptocurrencies such as bitcoin would impart a deflationary bias if widely adopted

Cryptocurrencies do not at present pose material risks to financial stability, major uk financial institutions have minimal exposures

Cryptocurrencies raise a host of issues around consumer and investor protection, money laundering, terrorism financing and evasion of tax and international sanctions

Has open mind about BoE creating its own digital currency, but does not appear to be a near-term prospect