Cryptocurrency
Crypto Money Is a Token, Not a Currency, South Africa’s Central Bank Says via @bloomberg
According to Bloomberg, “South Africa’s central bank chooses to call digital currencies such as Bitcoin ‘cyber-tokens’ because they don’t meet the requirements to be classified as money. “’We don’t use the term ‘cryptocurrency’ because it doesn’t meet the requirements of money in the economic sense of the stable means of exchange, a unit of measure […]
According to Bloomberg, “South Africa’s central bank chooses to call digital currencies such as Bitcoin ‘cyber-tokens’ because they don’t meet the requirements to be classified as money.
“’We don’t use the term ‘cryptocurrency’ because it doesn’t meet the requirements of money in the economic sense of the stable means of exchange, a unit of measure and a stable unit of value,’ Reserve Bank Deputy Governor Francois Groepe told reporters in Pretoria on Thursday. ‘We prefer to use the word ‘cyber-token’.”