Cash must not be made the scapegoat. It’s astonishing that alternative means of payment, such as bitcoin – very popular among cybercriminals – are subject to much less criticism than cash despite the risks they entail and the scope for misuse.
We are also working with our domestic and international counterparts to deal with the procyclical tendencies that characterize important areas of financial regulation, including capital and accounting standards. We must also adopt new regulatory mechanisms to counteract the systemic and too-big-tofail problems that became so embedded in our financial system.