The RBNZ is urging the country’s banks and businesses to exercise caution with Bitcoin
Assistant Goveronor John McDermott said Thursday:
- “Tread very carefully”
- “You have to worry about where’s the supply, how it’s controlled, how it’s monitored … who knows at this point? There is still a lot for the world to learn on this issue.”
Governor Graeme Wheeler weighed in:
“What I think is quite worrying is the price volatility around bitcoins … it has the potential to move quite rapidly.”
But, says Wheeler:
“Conceptually, the idea is very interesting — that you can have a means of payment that basically is universally accepted and basically means that you get aside capital controls, you get aside exchange rate issues”
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I don’t know about these RBNZ guys. They moan and whinge about an overvalued currency and when a currency comes along that’s given the kiwi (and everything else) an absolute pasting … they still complain.
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