“No-one will pick up Bitcoin, warns SA’s central bank governor” – Business Insider South Africa | $10,941.31

Lesetja Kganyago, the incoming chair of the International Monetary Fund’s policy advisory committee, says cryptocurrencies pose no threat to the reserve currencies of the world.

The backing of central banks to protect the value of their currencies is crucial, Kganyago said in an interview with Business Insider South Africa.

“If the rand loses value, there is someone you can shout at because they [the central bank]stand behind the currency. Unlike with bitcoin, for instance, and its anonymous creator,” the governor said.

Kganyago is also concerned about the unregulated nature of cryptocurrencies, which could lead to criminal activity including tax evasion, money laundering, and cybercrime.

Eulogy made by Lesetja Kganyago

Source

Bitcoin Video Crash Course 

Join over 94,000 students and know all you need to know about Bitcoin. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.

Leave a Reply

avatar
 
  Subscribe  
Notify of