Federal Reserve

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.

U.S. Federal Reserve Vice Chair Lael Brainard said a central bank digital currency (CBDC) could coexist and complement stablecoins in her Thursday testimony to a House Financial Services Committee virtual hearing. See related article: CBDC tracker shows U.S. falling further behind Fast facts CBDCs are digital currencies released and backed by central banks, while stablecoins […]

Pakistan forms subcommittees to consider the future of crypto. Meanwhile, the Fed Rate hike sees Bitcoin flirt with US$40K.

Total cryptocurrency market capitalization rose by 5.4% as the U.S. Federal Reserve announced it is raising interest rates by 50 basis points, the sharpest since 2000. See related article: Has Bitcoin become a victim of its own success? Fast facts The increase creates a target range of between 0.75% and 1% following a 25 basis […]

U.S. Justice Department charges two Europeans for aiding North Korea. Meanwhile, Shanghai’s Covid lockdown popularizes blockchain.

Crypto and stock markets tumbled as the U.S. dollar rallied to its highest point since March 2020 amid concerns of looming interest rate hikes at the U.S. Federal Reserve. See related article: Is Bitcoin really a hedge against inflation? Fast facts The U.S. stock market fell with Nasdaq dropping by 4% on Tuesday over concerns […]

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 […]

A Malaysian minister has proposed making Bitcoin a legal tender. Meanwhile in Hong Kong, an 11-year-old programmer makes his way into the NFT business.

Capital control limiting outflows may be less of an issue in the future with e-CNY being a ‘controllable currency,’ experts say.

Bitcoin and most of the top cryptocurrencies by market capitalization landed in the green on Thursday after the U.S. Federal Reserve raised interest rates on Wednesday. See related article: Is Bitcoin really a hedge against inflation? Fast facts The U.S. central bank hiked its benchmark interest rate by 0.25 basis points, for the first time […]

The global cryptocurrency market rose along with smaller gains in the broader equity and bond markets in the aftermath of a Federal Reserve Open Market Committee statement Wednesday afternoon that it would leave interest rates untouched at near zero but expects to raise them soon. As the market digested the latest report, prices began trending […]

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

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 […]

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. […]

Kazakh riots hit miners, meanwhile Fed hits crypto market

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.

Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?

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 — […]

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 […]

Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.

Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.

As global markets continue to watch the Evergrande debt crisis nervously, Chinese bank branch agrees to U.S. risk management measures.

As the U.S. economy shows signs of recovery from the pandemic-related recession, the Federal Reserve has announced it will begin tapering the US$120 billion a month it spends on bond purchases, hoping to address concerns of rising inflation. This has caused unease in the crypto industry as Bitcoin adoption over the past 18 months has […]

  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 […]

It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?

Bitcoin sheds 4% but BTC’s share of the total crypto market grows after US Fed projects higher inflation and plans interest hikes earlier than expected.

El Salvador is proposing a bill to adopt Bitcoin as legal tender in the Central American nation. In a videotaped announcement shown at the Bitcoin 2021 Conference in Miami, President Nayib Bukele said he would submit the bill this week.

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?

As the world increasingly turns to Bitcoin, stablecoins and other cryptocurrencies, a brain trust of central bankers want to take back control.

Countries around the world are exploring central bank digital currencies. But US and European central bank leaders say they value stability over speed.

Other top blockchain and crypto news: DeFi under Fed study. Andrew Yang, Wyoming vie for crypto attention. Hong Kong and India edge toward crypto bans.

In written testimony, the US Treasury Secretary-nominee calls digital assets ‘fintech innovations’ and pledges to ‘encourage their use for legitimate activities.’

Other top crypto and blockchain news: USDC stablecoin coming to Solana blockchain. Investing in KYC/AML in India.

Covid-driven monetary policies are spurring growing investor interest in crypto assets and derivatives, says Richard Byworth, CEO of Diginex and EQUOS.io.

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.

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.

As Covid-19 roils markets and currencies, next-generation algorithmic stablecoins may offer a smoother ride.

Coronavirus fears are sending markets tumbling. Could tokenized gold, or gold-backed crypto, be the next-generation investment in times of economic trouble?