Chapter Reservado Bank of San Francisco: Bitcoin cannot be considered a currency

In January analysts at Goldman Sachs saidthat Bitcoin could replace national currencies in countries that are not ready to offer a high level of financial stability. It was about Africa and South-East Asia. The head of the Reserve Bank San Francisco John Williams another look at digital money: he believes that they cannot be considered currency.

Authorities against Bitcoin

In an interview with CNBC , the official said that the coins are missing the fundamental properties of money.

Cryptocurrency doesn’t pass the simplest test of the currency. Now Bitcoin does a lot of problems — using it launder money and Finance terrorists. Digital money in its current form is just a precursor to the technology that can really change the economy.

Williams added that cryptocurrency will not become a stable means of payment because of the high volatility. He also admitted that refers to digital money biased, since most of his life he worked in the Central Bank.

As the newspaper notes, the statement of Williams especially important in anticipation of his appointment to the post of head of the Reserve Bank of new York. Organization is one of the most respected regulators in the country.

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