Golden Finance reports that San Francisco Fed President Daly stated that cryptocurrencies should be viewed as an independent asset class, rather than being conflated with gold as is often the case, and that cryptocurrencies are complex and not yet ready to become a 'currency.' 'I think cryptocurrency is a complex thing, and the service we need to provide for everyone is a true interpretation of what it means. Once we achieve 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 stock, an asset that retains value or sometimes depreciates. We just need to define these terms.' 'So I don't think it is like gold,' Daly added. 'It has some characteristics similar to gold at times, but I don't think it is an asset similar to gold.' (Jinshi)