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01.12 - 19:23
RBA warns Aussies over punting on ‘fad driven’ cryptocurrencies
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The Reserve Bank of Australia (RBA) has warned Aussie investors about speculating on digital assets as it casts doubt over the entire crypto sector.
During a Nov. 18 address to the Australian Corporate Treasury Association, the RBA’s head of payments policy Tony Richards offered an overview on distributed ledger tech, crypto assets, stablecoins, and central bank digital currencies (CBDCs).
In his speech, Richards raised questions over crypto’s validity and growth in 2021 as he took aim at the amount of capital invested into memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB):
“And the Shiba Inu token, which appears to be equally free of any useful function, is currently the ninth-largest cryptocurrency, with a market capitalization of
Read more on cointelegraph.comAbout this in other media
Cryptocurrency in Australia 2021 cryptonews.com /3 years ago
US Bitcoin ETF favors Australian approval, but Aussies need to go further cointelegraph.com /3 years ago
Only a handful of 6,000-odd cryptocurrencies will survive, says Raghuram Rajan livemint.com /3 years ago
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