Source: REUTERS
The rapid development of crypto and digital finance generally is “an area we cannot ignore,” Atlanta Federal Reserve President Raphael Bostic said on Monday while pointing to volatility in technologies like bitcoin and their shortcomings as a substitute for traditional currencies like the dollar.
“It is moving fast. The crypto space in particular right now if you characterized it – it is an extremely volatile market and I don’t think its characteristics right now are conducive for them to be currency. The stablecoins get closer but there is still more to be done,” Bostic said in an online discussion with a Florida-based real estate institute.
(Published on May 25, 2021)
This content is for informational purposes only and should not be construed in any other way. The content is based on sources that InMaketsWeTrust.com believes to be reliable but are not guaranteed by us as accurate and does not purport to be a complete statement or summary of the available data. We encourage readers to supplement the information obtained from this content with independent research and other professional advice. InMaketsWeTrust.com is not responsible for errors and omissions and does not guarantee nor endorse any information published on this curated content. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of InMaketsWeTrust.com.
