# Professor Richard Sylla argues that cryptocurrency innovations are likely to be nationalized by central banks

1 Faculty News January 6, 2020 ![Global Finance logo](/sites/default/files/styles/246w/public/assets/images/con_033477.jpg?itok=PxtFpGv3)>

Excerpt from [Global Finance Magazine](https://www.gfmag.com/magazine/january-2020/central-banks-soften-their-stance-digital-currencies) -- “'Cryptocurrency innovations—if they really are advantageous—are likely to be nationalized at some point as an exercise of national sovereignty,' [Richard Sylla](https://www.stern.nyu.edu/faculty/bio/richard-sylla), Professor Emeritus of Economics at New York University Stern School of Business told Global Finance."

[Read More](https://www.gfmag.com/magazine/january-2020/central-banks-soften-their-stance-digital-currencies)