Keep Your Hands Off Cryptocurrency, Economist Tells World Governments

Prominent economist and editorial director of the American Institute for Economic Research (AEIR), Jeffrey Tucker, has urged governments and central banks around the world to let go of the idea of creating state-backed cryptocurrencies and instead focus on the soundness of the fiat system and the banking system.

“Leave Crypto Alone”

In an editorial published in AEIR, Tucker stated that the growing cryptocurrency scene and its associated infrastructure are the preserve of private innovation and enterprise and that governments should not dabble in this field.

Speaking about efforts to regulate cryptocurrencies and bring them under government control strictly, Tucker opined that such efforts run in direct contrast to the stated goal of cryptocurrencies, which is the end of a monopoly on money.

Explaining this point, he said:

“I’m not a believer. They won’t compete in the marketplace. They might achieve the opposite of the stated goal – the end of monopoly. Truly…