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Tag: digital currencies

Namibian Central Bank: Virtual Assets ‘Remain Without Legal Tender Status’ but Merchants Can Still Accept Them as Payment

The Bank of Namibia recently said it has brought virtual assets and virtual asset service providers under its fintech innovations regulatory framework, and that...

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A Beginner’s Guide To Cryptocurrency Trading

Image Source Everything about crypto has become a news story: from wild price fluctuations to the flurry of initial coin offerings (ICOs) and the seemingly...

While Gains Have Been Slower Than Most Crypto Assets, Meme Coin Economy Swells by 24%

While a great number of crypto asset values have improved over the last month, meme-based crypto assets have also advanced against the U.S. dollar....

X Open Hub Adds 30 New Cryptocurrencies and 2 Emerging Market Indices to its Vast Asset List

Global provider of cutting-edge liquidity and technology solutions for financial institutions, X Open Hub has announced additions to its vast multi-asset offerings. The company...

Cryptocurrency vs. Stocks: Where Should You Put Your Money?

There is no denying that cryptocurrency has taken the world by storm in recent times. According to Bloomberg, these digital currencies are estimated to...

Tether Launches Stablecoin Pegged to the British Pound Sterling

Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active...

Bill Regulating Crypto Mining Submitted to Russian Parliament

Bill Regulating Crypto Mining Submitted to Russian ParliamentA draft law tailored to regulate cryptocurrency mining has been filed with the lower house of Russian parliament, the State Duma. The legislation provides a legal definition for the extraction of digital currencies and envisages the establishment of a register for miners. Russian Lawmakers to Review Legislation Enforcing Rules for Crypto Mining Sector The draft […]
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Here’s the first multi-CBDC settlement project and participating countries

While the US debate over the CBDCs and their effects, the rest of the world are getting closer to releasing their own CBDCs.

The post Here’s the first multi-CBDC settlement project and participating countries appeared first on CryptoSlate.

Russian-Ukraine war could hasten global cryptocurrency adoption, but not in the way you think

In a letter to shareholders on Thursday, Blackrock CEO Larry Fink wrote Russia’s invasion of Ukraine has disrupted the world order and put an end to globalization.

The post Russian-Ukraine war could hasten global cryptocurrency adoption, but not in the way you think appeared first on CryptoSlate.

World’s Largest Asset Manager Blackrock: Russia-Ukraine War Has Potential Impact on Accelerating Digital Currencies

World's Largest Asset Manager Blackrock: Russia-Ukraine War Has Potential Impact on Accelerating Digital CurrenciesThe CEO of the world’s largest asset manager, Blackrock, says the Russia-Ukraine war has a “potential impact on accelerating digital currencies.” He confirms that Blackrock “is studying digital currencies, stablecoins and the underlying technologies to understand how they can help us serve our clients.” Blackrock on the Acceleration of Digital Currencies Blackrock CEO Larry Fink […]

Deloitte Blockchain Survey: Crypto’s continued development

Pre-COVID, cryptocurrency was nonetheless a comparatively unknown commodity in mainstream circles and to common shoppers. Two years into the pandemic (or post-pandemic, can we are saying???), that has modified completely.   Deloitte’s 2021 international blockchain survey highlights the extent of crypto’s emergence – and this survey was carried out just one 12 months into the pandemic, […]

The post Deloitte Blockchain Survey: Crypto’s continued development appeared first on Bitcoin Upload.

Digital currencies further disrupt ‘complicated’ US banking system

Digital currencies are only one disruptor in the already intricate U.S. banking ecosystem. Countering the belief that digital currencies could prove the “end of banking,” the rise in cryptocurrency and central bank digital currencies (CBDC) will add an additional layer of complexity to the U.S. banking system, John C. Williams, president of the Federal Reserve […]

Fed Chair Powell Says Crypto Requires New Rules, Citing ‘Threats’ To US Financial System

Federal Reserve Chairman Jerome Powell emphasized on Wednesday that technology transformation is here to stay in the financial sector and that new regulations will be required. Powell revealed some insight into how the United States would govern the market during a presentation at the Bank of International Settlements Innovation Summit on central bank digital currencies. The digital age was not taken into consideration when establishing our current regulatory structures, the Fed official said. “There will be revisions to current laws and regulations, as well as the creation of wholly new rules and structure, if central banks, stablecoins, and digital currencies are to be implemented,” he said during a roundtable discussion on CBDCs at the BISI Summit. Is There A Threat? Powell noted that emerging forms of digital money, like cryptocurrencies and stablecoins, pose threats to the US financial system and will necessitate the adoption of additional consumer protection measures. Powell reaffirmed his position that cryptocurrency should adhere to the “same activity, same regulation” premise. He proposed regulating stablecoin issuers, such as banks, in October 2021. “Stablecoins function similarly to money market funds. They’re similar to bank deposits… and it is reasonable for them to be controlled similarly, same activity, same regulation,” he concluded. Powell Says DeFi Can Improve Finance Sector Despite this, the Fed chairman acknowledged that distributed technology and DeFi have the potential to improve the payment system’s efficiency and foster a more competitive financial sector. This is an impressive recognition from the director of one of the country’s premier financial institutions. Other agencies and their personnel have embraced crypto and blockchain technology as well, albeit they all appear to advocate for some level of regulation. Crypto total market cap at $1.94 trillion on the daily chart | Source: TradingView.com Suggested Reading | Fiat – Not Crypto – Still The Top Choice For Financial Crimes, US Treasury Says Stablecoins are a type of cryptocurrency that are typically backed by the dollar or a commodity such as precious metal. CBDCs are digital representations of dollars or other fiat currencies that governments issue. The Fed is exdigital currencies but has not yet decided whether to issue them. In January, it published a study on stablecoins. Biden’s Executive Order US President Joe Biden signed an executive order earlier this month directing the Treasury Department and other federal agencies to conduct a study on the impact of cryptocurrency on economic stability and national security. Biden’s directive comes as many Democratic legislators, notably Massachusetts’ Elizabeth Warren, have expressed worry that cryptocurrency could be used to circumvent US sanctions against Russia. As part of the executive mandate, the Treasury is leading a report on a CBDC in consultation with the Departments of Justice, Commerce, and State, as well as the Office of Management and Budget, Homeland Security, and the Director of National Intelligence, to determine whether the US should pursue a digital dollar. Suggested Reading | Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum? Featured image from CryptoSlate, chart from TradingView.com
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