By John McCarthy

The Bank of England (BoE) on Friday released two reports into the rise of crypto-currencies such as Bitcoin with one investigating its potential – and threat to Sterling – and the other studying its fraud and deflation risks.

The UK central bank’s report claimed that if digital currency Bitcoin, which is traded anonymously online for an increasingly wider range of goods and services, was to find widespread usage it could damage the value of Sterling. However, the report later added that this scenario was unlikely due to Bitcoin restricting its uptake to no more than 21 million coins.

Playing down the currency’s Read full story ›

Source: The Drum