
Digital currency fad and FOMO will end soon, Australian central bank expert says
A senior executive at the Reserve Bank of Australia tore into digital currencies in a recent speech, saying that CBDCs and regulated stablecoins will end them.
A senior executive at the Reserve Bank of Australia tore into digital currencies in a recent speech, saying that CBDCs and regulated stablecoins will end them.
Reserve Bank of Australia has announced plans for a CBDC proof-of-concept; the bank says the project will be finished by the end of the year.
Australia’s digital payments systems are adequate for the citizens’ needs, according to Tory Richards, head of payments policy at the Reserve Bank of Australia.
The Reserve Bank of Australia is reportedly skeptical of the benefits of CBDCs, and is also concerned about private stablecoins.
The head of Reserve Bank of Australia’s payments policy has not left any optimism on the chances of BTC being adopted in the real world.
Tony Richards, head of the payments policy of the Reserve Bank of Australia, said cryptocurrencies gained minimal pickup in Australia, and it’s likely to stay that way for a while.