Reserve Bank of Australia governor Michele Bullock says cash may only be around for 10 years, but called for an urgent deal between the banks and Armaguard to ensure consumers can continue to pay with notes and coins beyond June 30.
Despite the ongoing demise of cash, Bullock said she sees no role for bitcoin in payments or for the central bank to invest in cryptocurrency, at odds with Donald Trump who has talked up the United States government taking a strategic holding in the digital asset.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
