Odaily Planet Daily News: San Francisco Federal Reserve President Daly stated that cryptocurrencies should be viewed as an independent asset class, rather than being conflated with gold as is often the case. Furthermore, cryptocurrencies are complex and not yet ready to be considered 'currency.' Daly said in a podcast: 'I think cryptocurrencies are a complex thing, and the service we need to provide for everyone is to really interpret what it means. Once we do that, we can define it. It can be a currency, it can be a medium of exchange, it can be a stock, or an asset that can sometimes retain value or depreciate. We just need to define those 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 an asset like gold.' Daly agreed with Powell's view that cryptocurrencies are not yet ready to be currency, while some cryptocurrency bulls believe that at this stage of its lifecycle, cryptocurrency should be considered currency. (Golden Ten)