What are the effects of cryptocurrency on government monetary policy

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2018 retrieved from https www.ccn.com us-federal-reserve-bitcoin-study

Bitcoin's Monetary Policy
This is a way that the government controls fiscal policy and the whole economy. But Bitcoin is state-less and it is easy to circumvent capital controls. One. The dizzying rise of bitcoin and other cryptocurrencies has created new challenges for governments and central banks. Increasing popularity and high levels. The analysis reveals a striking pattern: in the post time sample, Bitcoin prices decline after a US monetary contraction and the effect persists over many.