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The Fed began to change the attitude towards bitcoin



The head of the Federal Reserve System Jerome Powell has previously criticized bitcoin on several occasions. According to him, cryptocurrency is used mainly by criminals. A similar point of view is shared by many representatives of the Federal Reserve Banks that are part of the Fed. However, one of the leaders of the Federal Reserve, Robert Kaplan, who heads the Federal Reserve Bank of Dallas, said this week that Bitcoin can be seen as a safe-haven asset. But BTC is still unable to compete with fiat money, so it is still very early to talk about large-scale adoption of cryptocurrency, the official said during a speech at a conference held under the auspices of the University of Texas. Kaplan previously served on the Fed’s Monetary Policy Committee and the Federal Open Market Committee. This expert is also known for the fact that he was a professor at Harvard Business School. Bitcoin’s influence is growing, you can’t argue with that. However, the scale of the use of such a tool is so negligible that it will take a very long time for Bitcoin to manifest itself in full force, Kaplan emphasized. Bitcoin is not tied to the base currency, and this is its difference, for example, from the digital yuan, said the head of the Dallas Federal Reserve Bank. On the topic of the Chinese digital currency, Kaplan said that Beijing is seeking to create such a system with an innovative tool to control financial flows.

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