Federal Reserve president says cryptocurrencies tackle an important social problem

posted 12 months ago
St. Louis Federal Reserve President James Bullard told reporters on Friday that cryptocurrencies will cause a significant shift in the US financial system. In fact, at its current pace, the cryptocurrency revolution may end up normalizing non-uniform currency relations.

Within the modern nation-state system, it’s always been tradition that governments issue their own currencies... However, cryptocurrencies are forcing us to reconsider how we understand currency, says St. Louis Federal Reserve President James Bullard, going on to say “The current situation could be described as a drift toward a non-uniform currency in the US," and that cryptocurrencies are tackling an “important social problem."
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