TLDR:
Hong Kong Monetary Authority’s (HKMA) CEO Eddie Yue recently said that cryptocurrencies are likely to play a central role in the financial systems in the future, despite the recent problems in the sector.
“The technology and the bushiness innovation behind these developments are likely to be important for our future financial system,”
Blackrock’s former executive Edward Dowd, unaware of Yue’s comments, also recently said Bitcoin would become a part of everyone’s portfolio.
“Bitcoin is here to stay. It is going to be a part of everyone’s portfolio. At least with Bitcoin, you can exchange it digitally, and gold is a much tougher sale for me. I’m not against gold, and having some gold is not a bad idea,”
Yue and Dowd speak the same lines as U.S. Senators Cynthia Lummis and Kristen Gillibrand. The duo recently presented a draft bill to integrate cryptocurrencies into the financial system. The bill appoints the Commodity Futures Trading Commission (CFTC) as the crypto market regulator and aims to incorporate crypto into the U.S. financial system fully.
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