“With one unit of Bitcoin now worth 10,000 times the US dollar, it makes sense that the Fed would begin to feel a bit defensive. Indeed, the speech comes to the defense of the central bank, the existing money, and payment system networks, and calls for the pace of innovation to be controlled by regulators in the interest of ‘prudence.'”

Read more: https://fee.org/articles/fed-official-decries-bitcoin-as-not-backed/

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