Crypto’s Huge Gains Could Be Erased by Changing Trends, Says RBA Official
Outside the Reserve Bank of Australia (RBA) building in Sydney.
Photographer: David Gray/BloombergThis article is for subscribers only.
The significant gains in the cryptocurrency market could be erased by changing trends as well as regulatory and monetary developments, according to an official at the Reserve Bank of Australia.
Factors that could combine to pressure digital assets include lower influence of fads, greater concern about the industry’s energy usage and association with financial crimes, said Tony Richards, the RBA’s head of payments policy.