Lens
Regulation
The U.S. Federal Reserve’s report on central bank digital currencies (CBDCs) released on Thursday did not contain policy recommendations or decisions on digital dollar issuance. Fast facts The paper acknowledged that the Fed will not proceed in creating a digital dollar without clear support from lawmakers, ideally through a specific authorizing law. The Fed said […]
Lachlan Keller
Regulation
The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to […]
Jeanhee Kim
Economic Impacts
Federal Reserve Chairman Jerome Powell will reiterate his pledge to prevent entrenched inflation, in testimony released before his Senate nomination hearing on Tuesday. Fast facts “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” he said in a statement prepared for delivery. […]
Jeanhee Kim
Regulation
Of the Big Four central banks, including those of the EU, UK and Japan, only the Federal Reserve has not progressed beyond research mode in central bank digital currencies.
Jeanhee Kim
Regulation
Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?
Forkast.News
DeFi Innovations
The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas — […]
Timmy Shen
Economic Impacts
U.S. Federal Reserve officials are exploring raising interest rates and pulling back on economic help extended during the pandemic if inflation continues to rise, minutes from a meeting held in early November show. Fast facts The meeting, held on Nov. 2 and Nov. 3, included the Federal Open Market Committee and the Board of Governors […]
Monika Ghosh
Regulation
Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.
Forkast.News
Regulation
Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.
Jeanhee Kim
Compliance Challenges
As global markets continue to watch the Evergrande debt crisis nervously, Chinese bank branch agrees to U.S. risk management measures.
Jeanhee Kim
