RBA says Bitcoin and other digital currencies have limited use for transactions

RBA says Bitcoin and other digital currencies have limited use for transactions

Cameron Spencer/Getty Images The Reserve Bank of Australia doesn’t expect cryptocurrencies to be adopted for widespread transactional use. The RBA’s Head of Payments, Tony Richards, also discussed the potential regulatory response for Initial Coin Offerings (ICOs) and the use of digital currencies in illegal transactions in a speech to the House of Representatives standing committee on tax and revenue on Friday. So far, the regulatory response to cryptocurrencies has been more focused on ICOs and derivative investment products such as exchange traded funds (ETFs), rather than payment transactions. “The use of bitcoin and other digital currencies as an actual […]