Crypto-Fool’s Gold?

The long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates — and there is no reason to expect virtual currency to avoid a similar fate.

Project Syndicate
Oct 9, 2017 · 5 min read
Gold being poured at Driefontein Gold Mine near Carltonville, South Africa — Tom stoddart/Getty Images

By Kenneth Rogoff

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