FED Pro Cryptocurrency!

There are some significant signs that the FED is admitting cryptocurrency as a choice of currency to be use in the future as recently the Vice Chairman of the FED, Quarles, is putting a positive stance on stable coins.

“When our concerns have been addressed, we should be saying yes to these products, rather than straining to find ways to say no,” Quarles said. “Indeed, the combination of imminent improvements in the existing payments system such as various instant payments initiatives combined with the cross-border efficiency of properly structured stablecoins could well make superfluous any effort to develop” a central bank digital currency.

The idea of entertaining cryptocurrency by the FED is definitely integrating as it shows proof that the very creation of it to be use as a form of currency was the intent. However the government having control of cryptocurrency is a bit concerning. In any case for now it will be important that people of power is acknowledging that cryptocurrency could potentially be an asset for the future.

Conclusions

Prior to FED's Quarles comments for stable coins there was more of a stance from the FED that they were against cryptocurrency. Now some more talk and it appears not all FED members are against cryptocurrency. This means a slow but changing of what cryptocurrency when it comes to adoption.

It will take a while before cryptocurrency become a mainstream as it takes time for people to accept the changes and adopt. However I think crypto is here to stay and will only be accepted by more as time passes. As the X-gen and millennials were the first tech generations to get involved in crypto it is now expanding to the younger generations. In time as members of the FED get replace by younger people the generations that have been pro crypto will sooner or later take the sits of power and led the way for further acceptance of crypto. This is my belief as to how crypto will in the end become a form of asset that we will have in our daily lives. The younger generations who have accepted its use and consider it worth of value will in the end be the ones that will determine the fate of cryptocurrency. Not the current assembly of members in the FED, but they can accelerate the process by admitting now or soon that crypto as a form of useful currency. In the end its a win win for crypto believers and followers as we have to patiently awake of this outcome. It is not if crypto will become an asset for trading and holding long term investment but as to when it is accepted as such.

This post is not investment advice but for entertainment purposes only. Thanks for reading.