Reported 10 months ago
Mary Daly, the president of the San Francisco Fed, argues that cryptocurrencies should not be viewed as traditional assets like gold, suggesting instead that they represent a distinct asset class. In a recent podcast, she emphasized the need to clearly define crypto's role in the economy and noted that it lacks the stability required to be considered a true currency. While some in the crypto community advocate for its use as a medium of exchange, Daly contends that until cryptocurrencies can consistently grow with the economy, they will not fulfill currency functions.
Source: YAHOO