Fifth Third Bank President Tim Spence: If Cryptocurrency (digital tokens on blockchains) Acts Like a Bank, Regulate It Like One

Tim Spence said cryptocurrency (digital tokens on blockchains) should face the same rules as banks when it performs bank-like functions, underscoring a principle of activity-based oversight for crypto services.

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Terms & Concepts
  • Cryptocurrency: Digital tokens recorded on blockchains that can move peer-to-peer without central bank issuance.