Central banks turn to a less racy alternative to counter crypto craze

Central banks turn to a less racy alternative to counter crypto craze

Opinion Central banks turn to a less racy alternative to counter crypto craze It’s hard to ignore the cryptocurrency craze. Commonwealth Bank chief executive Matt Comyn this week joked he couldn’t go anywhere without discussing the topic, after CBA this month became the first local bank to allow customers to trade crypto assets. In one anecdote, Comyn said he’d been told of a barista who paid off their mortgage after they “punted” on cryptos. Speaking at a Committee for Economic Development of Australia dinner in Sydney, Comyn also relayed a friend’s tale of a cleaner who had apparently put their entire self-managed super fund into crypto assets - something Comyn stressed was a “really bad idea”. These stories illustrate the highly volatile and speculative nature of many crypto assets - …
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