Fed's Daly: Cryptocurrency should not be confused with gold, still a long way from becoming 'currency'

According to ChainCatcher, Mary Daly, the President of the San Francisco Fed, believes that Cryptocurrency should be considered as a separate asset class rather than being lumped in with gold as is typically the case. It says, "I think Cryptocurrency is a complex thing, and the service we need to provide to everyone is to truly interpret its meaning. Once we do that, we can define it. It can be a currency, a means of transaction, or a stock - an asset that can hold value or sometimes depreciate. We just need to define these terms." "So I don't think it's like gold," Daley added. "It sometimes has similar characteristics to gold, but I don't think it's an asset similar to gold."