OTTOWA, Ontario, Canada—New research by the Bank of Canada shows digital currencies need regulation.
Those are findings from the bank’s researchers, who were examining ways bitcoin can evolve. The group posited that cryptocurrency needs regulation to be “safe,” while also noting the growing concern over how bitcoin can be counterfeited, stated Bitcoin News Service in its analysis.
In the paper, the Bank of Canada looks at different angles regarding the future of bitcoin.
“They show a concern for having cryptocurrencies and government-issued notes being in circulation at the same time,” Bitcoin News Service stated.
In addition to a potential for counterfeit bitcoins, the report also finds it unfeasible bitcoin is not an inflationary currency, reported Bitcoin News Service, noting that not being inflationary is one of bitcoin’s primary selling points.