Former senior Fed official: A single sovereign state is unlikely to coordinate virtual currency

Former Federal Reserve senior official Simon Potter said at an event held at the Peterson Institute for International Economics on Wednesday that although a single sovereign state is unlikely to coordinate a virtual currency, the risk is that companies may do so. Central banks should be very concerned about the private sector doing so. A country’s control of its currency is designed to protect people and achieve good results. The private sector is more interested in selling products.