RBA Gov Lowe spoke of 'crypto things' over the weekend:
- reluctant to use the words “cryptocurrency” or “assets” because crypto did not have currency characteristics
- said the private sector is more likely to develop a successful stablecoin linked to official currencies than government bodies
- said the role of regulators is to regulate, not create
- said private money would never gain the mass support that official currencies had
- “New technologies drive waves of innovation, but they also drive waves of speculation,”
- “And those waves of speculation often end up in people losing money, particularly people who are not well-informed. I think we’ve seen examples of that just recently.
- “I think it’s unlikely that these various crypto things, not assets or currency, will be used as a form of money.
- “But if they did, then we’d have to be confronting a whole series of very difficult issues ... they do need regulation.”
Info via Australian media report. The author of the article .... what???
