‘Speculative Mania.’ Bitcoin Is More Likely to Appeal to Criminals Than Consumers, RBA Governor Says

Australia's central bank chief added his voice to growing criticism of Bitcoin, saying the cryptocurrency that's soared above $17,000 is more likely to appeal to criminals than consumers.

"When thought of purely as a payment instrument, it seems more likely to be attractive to those who want to make transactions in the black or illegal economy, rather than everyday transactions," Governor Philip Lowe said in a speech in Sydney Wednesday. "So the current fascination with these currencies...

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