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Federal Reserve Bank Presidents: Cryptocurrency Sell-off Not a Systematic Concern, Does Not Affect Fed Policy
19.5.2021
Cryptocurrency sell-off is not a systematic concern for the Fed and does not affect Fed’s policies, two Federal Reserve Bank presidents said Wednesday. “We are all quite aware that crypto can be very volatile,” said the president of the Federal Reserve Bank of St. Louis. Crypto...
Imagine Bitcoin as a Reserve Asset. What Then?
15.5.2021
Governments have finally sat up and taken notice of crypto. For years they derided, criticized, and even banned cryptocurrencies, but now they’re rushing to get in on the act, with numerous central banks planning to roll out their own digital currencies in the coming months and years.
As for real...
Bitcoin Mining Operation Greenidge Generation Plans to Be Carbon Neutral Next Month
14.5.2021
On Friday, the bitcoin mining operation Greenidge Generation has announced that starting June 1st, the firm will be “carbon neutral” for the rest of 2021 and beyond. Greenidge’s announcement follows the recent statements from Tesla and Square after the companies cited...
India’s Central Bank RBI Urges Banks to Cut Ties With Crypto Businesses and Traders: Report
14.5.2021
India’s central bank, the Reserve Bank of India (RBI), has reportedly informally asked banks to cut ties with cryptocurrency exchanges and traders. Some banks in India have limited their exposure to the crypto market and some plan to stop all crypto-related transactions. RBI Asking Banks...
Tether discloses full reserve breakdown for the first time
13.5.2021
Cash, cash equivalents, other short-term deposits and commercial paper make up 75.85% of Tether’s proven reserves as of March 31
Stan Druckenmiller: US Will Likely Lose Reserve Currency Status in 15 Years, Hard to Unseat Bitcoin as Store of Value
13.5.2021
Legendary fund manager Stanley Druckenmiller says that he is worried that within 15 years the U.S. dollar will lose its world’s reserve currency status. He said that crypto is a solution to the lack of trust in Fed Chairman Jerome Powell “and the rest of the world’s central...
Diem parters with Silvergate bank to launch stablecoin in the US
13.5.2021
Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate
Billionaire Druckenmiller says ledger-based system could replace USD worldwide
12.5.2021
Billionaire Stanley Druckenmiller thinks some kind of crypto-derived ledger system may replace the U.S. dollar as the world’s reserve currency in the future
Electronic Transactions Association Proposes 7 Guiding Principles for a Digital Dollar
7.5.2021
The Electronic Transactions Association (ETA) has put forward a set of guiding principles to be considered in the creation of a U.S. central bank digital currency (CBDC), also referred to as digital dollar. The organization, which unites hundreds of companies in the payments industry, confirms...
‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’
7.5.2021
Precious metals (PM) markets have been trading a bit higher in recent days, while cryptocurrency markets have been seeing gains as well. Spot gold prices have jumped to $1,805 per ounce, up more than 1.3% during the last 24 hours, while silver prices have increased by 2.5%. As PMs have gathered...
Reserve Proposes Customers to Use Their Business Zelle Accounts to Process Payments
6.5.2021
Reserve, a fintech and cryptocurrency-related exchange and payment processing app, sent an email yesterday to its customers asking for their help in processing payments by leveraging their personal Zelle accounts to do so. This raised certain alarms in the community, that are now wary of...
Federal Reserve Bank Paper: DeFi May Cause a Paradigm Shift
6.5.2021
The world is moving towards complete digitization, and measures like DeFi and cryptocurrencies play a big part in it. Ethereum is major crypto, and even the Federal Reserve Bank proved it as well. The institution recently released a paper stating how Ethereum will help the DeFi sector...
‘DeFi may lead to a paradigm shift’ says Federal Reserve Bank paper
5.5.2021
Ethereum has unleashed a wave of financial innovation
Fed’s Vice Chair for Supervision Calls on Bank Regulators to Pay More Attention to Cryptocurrency
4.5.2021
The Federal Reserve’s top supervisory official has called on bank regulators to pay more attention to cryptocurrencies and stablecoins. His comments followed a number of major banks announcing that they will be offering products based on cryptocurrencies, particularly bitcoin, to their...
Nigeria Stopping the Rejection of Old or Torn USD Notes Underlines Why Crypto Is a Better Reserve Currency
3.5.2021
In early April 2021, the Central Bank of Nigeria (CBN) issued a circular warning Nigerian institutions to stop the practice of rejecting old or lower denomination USD notes. The CBN issued the warning after it became “inundated with complaints from members of the public on the rejection...
Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights ‘Froth in Equity Markets’
30.4.2021
Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop...
Fed to Keep Rates Near Zero, Treasury Purchases to Continue, Powell Expects ‘Transitory’ Inflation
29.4.2021
In a policy meeting on Wednesday, the U.S. Federal Reserve told the public that monetary easing will continue and the benchmark interest rate will be kept near zero. Just like previous statements from Federal Open Market Committee (FOMC) members, the committee within the central bank is...
Mercurial on crypto: Will India’s latest stance lead to positive regulation?
26.4.2021
Indian officials are switching their stance on crypto, but the country’s regulatory environment may have additional bottlenecks in store
Another South African Company Reveals Plans to List a Crypto ETF on Local Stock Exchange
21.4.2021
Fresh reports from South Africa suggest another local company, Sygnia, is set to apply to the Johannesburg Stock Exchange (JSE) to list a new cryptocurrency exchange-traded fund (ETF). This application will be the second time Sygnia has attempted to list the crypto ETF. A similar application...
Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value
20.4.2021
The Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.” Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value.” Fed Bank Chief...