According to BlockBeats, on December 31, San Francisco Fed President Daly stated that cryptocurrencies should be viewed as an independent asset class, rather than being mixed with gold as is usually done, and that cryptocurrencies are complex and not yet ready to become 'currency.'
Daly said on the podcast, "I think cryptocurrencies are a complex thing, and the service we need to provide for everyone is to truly interpret what it means. Once we do that, we can define it. It can be a currency, a medium of exchange, or a stock, an asset that sometimes holds value or depreciates. We just need to define these terms."
Daly added, "So I don’t think it’s like gold; it sometimes has gold-like characteristics, but I don’t think it is a gold-like asset." Daly agrees with Powell’s view that cryptocurrencies are not yet ready to be considered currency, while some cryptocurrency bulls believe that at this stage of its lifecycle, cryptocurrencies should become currency. (Jin Shi)