TechFlow news — On December 31, San Francisco Fed President Daly stated that cryptocurrencies should be viewed as a distinct asset class rather than being lumped together with gold as they often are, and that cryptocurrencies are complex and not yet ready to serve as "money."
In a podcast interview, Daly said: "I think cryptocurrency is a complicated thing. What we need to do for everyone is really unpack what it means, and once we do that, we can define it. It could be a currency, a medium of exchange, or it could be a stock, an asset that holds value or sometimes loses value. We just need to define these terms."
Daly added: "So I don't view it as being like gold. It sometimes has gold-like characteristics, but I don't think it's a gold-like asset."
