【Federal Reserve's Daly: Cryptocurrencies should not be confused with gold, still far from becoming 'currency'】Golden Finance reports that San Francisco Fed President Daly stated that cryptocurrencies should be seen as an independent asset class, rather than being mixed up with gold as is often the case, and that cryptocurrencies are complex and not ready to become 'currency'. "I think cryptocurrencies are complex things, and the services we need to provide for everyone is to truly interpret what it means. Once we do that, we can define it," Daly said on a podcast. "It can be a currency, it can be a medium of exchange, it can be a stock – an asset that holds value or sometimes depreciates. We just need to define these terms." "So I don't think it is like gold," Daly added. "It sometimes has gold-like characteristics, but I don't think it is an asset like gold." Daly's comments differ slightly from those of Federal Reserve Chair Jerome Powell, whose remarks on Bitcoin earlier this month energized the cryptocurrency community.