Bank of Canada Governor: Bitcoin Trading is Gambling

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26 January, 2018

Bank of Canada Governor: Bitcoin is Gambling

Speaking about digital currencies, Bank of Canada Governor Stephen Poloz said: “They are crypto, but they’re not currencies" and went on to compare Bitcoin trading to gambling.

Poloz also said that the Canadian central bank is looking into cryptocurrency regulation, following in the footsteps of nations such as South Korea and China.

He did admit that blockchain technology is a "true piece of genius."

"I'm not really sure what they are,” Poloz said in regard to cryptocurrencies. “They are not assets really … I suppose they are securities technically … There is no intrinsic value for something like bitcoin so it's not really an asset one can analyze. It's just essentially speculative or gambling."

- Aaron Goldstein, Gambling911.com

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