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The launch of Hong Kong’s very own CBDC comes with new regulations for crypto trading platforms operating in the city.
The U.S. is resisting digitization of the dollar due to it being a threat to the country’s dominance over traditional financial system, said Christopher Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC) and author of “Crypto Dad: Fight for the Future of Money.”
Christopher Giancarlo, the former chair of the CFTC, said the U.S. is resisting cryptocurrency innovation due to its threat to vested interests in the financial system.
Bitcoin and Ether rose during Asian trading hours on Thursday, along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization. Ether rose the most, following the successful completion of the Shapella upgrade.
The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.
The Fed’s new No. 2 is ahead of the curve in her thinking — which bodes well for crypto’s future around the world, writes a former colleague of Brainard.
The Depository Trust & Clearing Corporation (DTCC), one of the largest financial service providers in the U.S., unveiled “Project Lithium” to test infrastructure in support of a U.S. digital currency using blockchain technology. See related article: 5 US digital dollar pilots launching to chase China’s CBDC lead Fast facts Project Lithium is based on blockchain […]
As more countries announce plans for central bank digital currencies, will that break crypto’s promise as the future of money?
China does not expect significant impact on its monetary system if the digital dollar were introduced, said Mu Changchun, director-general of the People’s Bank of China Digital Currency Initiative on Wednesday. He spoke at a panel organized by the Atlantic Council think tank to support the release of the International Monetary Fund’s report on central […]
CBDCs can increase financial inclusion and prevent crime, according to blockchain expert Tiana Laurence. What’s not to like about state-backed digital money?
Though the world’s most powerful central bank does not stake a position, its discussion paper is a big step toward supporting a future US digital currency.
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 […]
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 […]
Christopher Giancarlo, AKA CryptoDad, expects legislators to get comfortable with crypto in 2022 and take a progressive approach to regulation
Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated. Bitcoin jumped by […]
In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?
Kazakhstan is quickly becoming a mining hotspot as China’s mining exodus settles down. In Hong Kong, and update on the e-HKD.
The U.S. dollar reigns supreme as the current world reserve currency. Could the USD’s status change with the rise of CBDCs like China’s DCEP digital yuan?
Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.
Global US dollar reserves touched a 25-year low in Q4 2020, according to a new IMF report. Will a digital euro and e-RMB muscle in?
The private sector-led Digital Dollar Project is planning CBDC pilots for the US. How are central bank digital currency efforts and progress different in Asia?
One year after China unveiled a digital currency via testing, its potential for displacing dollar diplomacy is becoming more understood. Is the US worried yet?
Countries around the world are exploring central bank digital currencies. But US and European central bank leaders say they value stability over speed.
The Blockchain Research Institute-led report for Biden’s administration also outlines recommendations for crypto regulations and a national blockchain strategy.
An all-star panel of top cryptocurrency policymakers and other blockchain experts explain the US regulatory system for digital assets and what lies ahead.
Ep. 36 | Bitcoin prices rise on PayPal cryptocurrency news. US wary of CBDC as China enacts digital currency law for DCEP rollout.
Other top crypto and blockchain news: USDC stablecoin coming to Solana blockchain. Investing in KYC/AML in India.
A recent flurry of US regulatory activity is helping legitimize the digital assets space. Here’s the latest on SEC, FINRA, CFTC and OCC’s new level of coordination.
As China muscles DCEP to market and the U.S. enlists MIT for a future digital dollar, South Korea struggles to find its place in the crypto economy.
The Digital Dollar Project offers a path forward for the US to create a central bank digital currency. But will the government accept private sector help?
Ep. 18 | Fed chair throws shade at Digital Dollar Project. Ripple elbows in on SWIFT. Compound dethrones MakerDao.
Other top news: China’s new blockchain cross-border payment platform for Hong Kong, Macau and Guangdong. 5G for all in Shenzhen. Fintech VC in India.
Covid stimulus needs and China’s new CBDC have heightened interest in digital assets, but US lawmakers are still trying to make sense of new technologies. In an interview with Forkast.News, Perianne Boring of Chamber of Digital Commerce also discusses prospects for a U.S. digital dollar, and more.
Ep. 15 | Is China’s digital RMB ready for prime time? Making the case for a US CBDC. Blockchain comes to Minecraft.
More top news: China exploring blockchain to cure gaming addiction. LG joins Hedera Hashgraph. Startups in Japan, Singapore and the Philippines.
Chris Giancarlo: digital dollar technology is coming ‘fast and furious.’ Can US seize the CBDC momentum?
Money is part of a nation’s financial infrastructure, and the dollar needs a digital upgrade for this changing world, says Giancarlo, former CFTC chair who now heads the Digital Dollar Project, in an exclusive interview with Forkast.News.
Digital Dollar Project’s new white paper proposes a ‘third format of currency’ that would be interchangeable with paper money while preserving privacy. Is America ready for a government crypto dollar?
What does ‘universal basic income’ have to do with a digital dollar or a central bank digital currency?
Covid-19’s disruption of global economies could speed up changes to financial systems around the world. Will cash become obsolete?
In an interview with Forkast.News, the billionaire venture capitalist also discusses globalism, regulatory arbitrage, the future of healthcare and why he thinks bitcoin is king.
Ep. 9 | U.S. rethinks ‘digital dollar.’ China’s new national blockchain platform. Is Libra now a stronger rival to China’s CBDC?
Other top news: Bitcoin halving frenzy. New Huawei tech zone. Blockchain company busted for defective face masks. VC in Hong Kong and Canada.
The U.S. backed away from a digital dollar in its coronavirus relief package. But a tokenized dollar would be better for America — and bring us closer to a true central bank digital currency, says a director of the Digital Dollar Project.
In this newsletter and podcast, we bring you top headlines around the world, including: A new proposal to create a digital dollar. Coinbase’s legal chief heading U.S. Treasury. A Bitcoin-Red Cross coronavirus fundraiser in Italy. Universal basic income’s revival. Steem’s hard fork into Hive, and more.
Analysis: Are the ‘digital dollars’ in the $2 trillion stimulus plan the first step toward an American CBDC?
Coronavirus’ impact on the U.S. economy might hasten the creation of a digital dollar.