RBA’s Lowe: Bitcoin is a terrible means of payment

RBA governor Philip Lowe as he touches on cryptocurrencies in a Q&A session following his speech in Perth

  • Bitcoin is speculative mania

That’s the last of Lowe’s comments in his Q&A session. No surprises that another central banker is quite opposed to the use of digital currencies.

Also in Australia today, cryptocurrency exchanges will now fall under the scrutiny of Australia’s financial intelligence agency – AUSTRAC. The new law is designed to monitor anti-money laundering and terrorism funding activities.

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