Fed’s Daly: Cryptocurrencies Shouldn’t Be Confused With Gold, They’re Not Yet Currency, Beyond That

ChainCatcher News: San Francisco Federal Reserve Bank President Mary Daly believes cryptocurrencies should be treated as a separate asset class and not confused with gold, as is often the case. “I think digital assets are a complex thing, and we need to provide a service for everyone to really interpret what they mean,” she said. “When we do that, we can define them. They can be a currency, they can be a trading medium, they can be a stock — assets that retain their value or lose their value at times. We just need to define those terms.” “So I don’t think it’s like gold,” Daly added. “Sometimes they have gold-like properties, but I don’t think they’re gold-like assets.”