Tony Richards, Head of the Reserve Bank of Australia’s (RBA) payments policy said in the text of a speech given in Sydney, they would not issue official cryptocurrencies anytime soon because of their volatility and vulnerability to hacking, Reuters reports. Richards noted: “Nine years after its launch and about five years since it entered the public consciousness, bitcoin continues to have structural flaws that make it unsuitable for many uses, many of which stem from its inefficient verification process,” Meanwhile, the Reserve Bank of New Zealand (RBNZ) Deputy Governor Geoff Bascand said in the text of a speech at an Auckland conference: “A breakdown in the financial system can cause enormous economic and social harm. We could not issue a digital currency if it might undermine financial stability,” “The payments industry is dynamic, which is good. But the Reserve Bank must be a considered prospector in the exploration for digital currency benefits – we have New Zealand’s currency and financial system at stake,” Bascand added. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD targets 1.1400 medium term – Commerzbank FX Street 5 years Tony Richards, Head of the Reserve Bank of Australia's (RBA) payments policy said in the text of a speech given in Sydney, they would not issue official cryptocurrencies anytime soon because of their volatility and vulnerability to hacking, Reuters reports. Richards noted: "Nine years after its launch and about five years since it entered the public consciousness, bitcoin continues to have structural flaws that make it unsuitable for many uses, many of which stem from its inefficient verification process," Meanwhile, the Reserve Bank of New Zealand (RBNZ) Deputy Governor Geoff Bascand said in the text of a speech at an… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
