Harsh Criticism For Bitcoin

“Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills,” said Lagarde in a blog post.

“As he has spent most of his career in central banking, Williams acknowledged he is “very biased” when it comes to the crypto issue. Williams likely will take the New York Fed reigns when current President William Dudley leaves in June,” according to CNBC.

Related – The Real Value of Bitcoin: Not a Pretty Picture

Some regulators have been critical of risks posed by cryptocurrencies with some countries moving to ban transactions in digital currencies and/or exchanges where digital currencies can be traded. Earlier this month, the Reserve Bank of India (RBI) said it is banning banks from dealing digital currencies and Chile recently banned some crypto exchanges.

For more information on the cryptocurrency market, visit our Bitcoin category.