EZFKRBA Governor Phil Lowe has lashed out at cryptocurrency as a ‘scam’ after record losses for Bitcoin and other coins the last week.
Following nearly 20% drops across the board for Bitcoin, Ethereum and other coins Lowe said crypto was nothing more than a scam. The comments also come as a Melbourne-based crypto exchange was forced into liquidation.
“It’s all a bubble and only our centrally issued, fake fiat backed by nothing other than our word and the use of violence should be even considered as a legitimate currency,’ Lowe said.
“However, that won’t stop us launching our own Central Bank Digital Currency in the coming months which we will use as a precursor to a social credit score.”
Lowe said the new EZFKARBA CBDC will be likely titled the “Convict Coin.”