Bank of America analyst Francisco Blanch has slammed the flagship cryptocurrency bitcoin using various criteria in a review of the bull argument for BTC. Per Blanch, bitcoin has many flaws including its volatility and practicality. Bitcoin’s supply is capped at 21 million which protects it from quantitative easing and other monetary policies that inflate money […]
On March 19, 2021, global anti-money laundering watchdog the Financial Action Task Force (FATF) released a public consultation for its updated Draft Guidance...
The Committee on Payments and Market Infrastructures conference was held in Basel, Switzerland. One of the main guests was the Chairman of the U.S. Federal Reserve, Jerome Powell. Referring to a report created by the institution he chairs and other banking institutions, Powell said: A recent report from the Bank for International Settlements (BIS) and […]
According to the latest announcement, Bank of America considers decentralized finance (DeFi) potentially more disruptive than Bitcoin. Although Bitcoin is the most popular cryptocurrency, Bank of America believes that Ethereum Blockchain is more prominent and has more advanced features, such as flexibility in its hosting of DeFi, than the first-ever cryptocurrency, Bitcoin. DeFi refers to … Read More
United States Federal Reserve Chairman, Jerome Powell says Central bank digital currencies (CBDCs) will need to coexist with cash instead of replacing them. Powell made [...]
The United States Federal Reserve Chairman, Jerome Powell, referred to Central Bank Digital Currencies (CBD) by stating they would not replace cash but complement it. The remarks took place at a conference hosted by the Committee on Payments and Market Infrastructures taking in Basel, Switzerland. During the conference, Powell said, “Relevant to today’s topic, one [...]
Jerome Powell, head of the US Federal Reserve, said state-backed digital currencies and official Central Bank Digital Currencies (CBDCs) can function alongside fiat money in the coming years, as per a report on business outlet Bloomberg on Thursday.