Philip Lowe, Governor of the Reserve Bank of Australia, made the following statement:
- What is happening now in crypto currencies falls under speculative mania.
- It's hard to see crypto currencies being used for daily payments.
- Any form of electronic Australian dollar would be better to be issued through the Reserve Bank of Australia.
- The case of adding an electronic form to Australian banknotes has not yet been established.
- Some central banks see the use of electronic banknotes as looming.
- Electronic banknotes may threaten financial stability.
- We don't think it is possible to provide a bank account for each Australian to make payments.
- Households and businesses are likely to retain large amounts of money in the form of bank deposits.
