The Bank of Canada's senior deputy governor is calling for authorities to work toward a coherent set of globally aligned policies governing cryptocurrencies. Carolyn Wilkins told a University of Toronto conference on Thursday that such a strategy will need to cover risks in both cash and derivatives products, as well as the related ecosystems. Wilkins referred to cryptocurrencies as "crypto assets," rather than currencies because "they do not perform any of the key functions of money." The different forms of crypto assets, such as tokens, should be put on a "level playing field" with other ways of raising money, she added. Her comments come after the central bank governor raised concerns earlier this year about cryptocurrencies, such as Bitcoin.

Source: CBC News March 22, 2018 20:48 UTC