Here’s proof the Fed need not fear a world of tokens

Although only a tiny fraction of financial transactions are tokenised in the sense used in the report, the technique is growing rapidly. — Bloomberg

A NEW report demonstrating that central banks can port their monetary policy tools into a tokenised financial system is an important step in transforming how we trade securities including stocks and bonds.

There’s never been a shortage of cryptophiles saying, “Of course central banks can run monetary policy with tokens,” nor of conservative bankers saying, “I’ll believe it when I see it.”