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‘Not really money’: The RBA isn’t worried about crypto. Should they be? – The New Daily
The RBA isn’t worried about crypto derailing financial markets, but there’s no shortage of dangers in this brave new world of social media investing.
Some $11.8 billion poured into dog-themed ‘coins’ last week, but the Reserve Bank isn’t fussed, saying cryptocurrencies aren’t a risk to market stability.
In fact, when asked about the pitfalls of cryptocurrency on Friday, RBA assistant governor Michele Bullock said Bitcoin isn’t a focus for the bank.
“It’s not even really money,” Ms Bullock told the House Economics Committee in Canberra.
“There’s a lot of fuss about
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