The CEA's View on Cryptocurrencies

The CEA says most crypto assets have in its view no fundamental value. The report goes on to recognize that fiat money itself also doesn't have fundamental or intrinsic value, rather it functions as money because it satisfies the often repeated three functions of money being a medium of exchange, a unit of account, and a store of value. It's worth noting here that my colleague George Selgen has some interesting writing on how really it's the medium of exchange component that's the cinequan.