Cryptocurrency

Functions of Money
Federal Reserve1 At the heart of any to act as a stable store
cryptocurrency is the of value that people
creation of a new type can hold and use
of asset--the unit of predictably in the
the cryptocurrency future,
itself--that is distinct
from any traditional and to serve as a
form of money used meaningful unit of
in routine account that can be
transactions, such as used to assign a
U.S. currency or comparable value of
checking accounts in goods and services.
commercial banks. 2

1 https://www.federalreserve.gov/newsevents/speech/brainard20180515a.htm
2 https://www.federalreserve.gov/newsevents/speech/brainard20180515a.htm