Results For: cbdc
Fed Chair Powell Says CBDC Is Nowhere Close to Reality
In testimony before the Senate Banking Committee Thursday, Federal Reserve Chairman Jerome Powell firmly rejected notions that adoption of a central bank digital currency (CBDC) by the U.S. is imminent. Powell also mentioned that it is not even actively under consideration at this point. His remarks come amidst a growing conservative political backlash against a …...
Republicans Renew Push to Block Central Bank Digital Currency (CBDC)
Republican lawmakers have put forward fresh legislation aimed at preventing the Federal Reserve from developing a central bank digital currency (CBDC) over privacy concerns. On Monday, Senator Ted Cruz (R-TX) filed the “CBDC Anti-Surveillance State Act” along with four other GOP senators. The bill seeks to clarify that the Fed lacks authority to create a …...
Donald Trump Vows to Oppose CBDC Creation In The U.S.
Former President Donald Trump pledged, if reelected, to resist any effort by the Federal Reserve to develop a central bank digital currency (CBDC). In a Wednesday campaign speech, Trump argued that such dollar-backed virtual money risks dangerous government overreach and control over Americans’ financial lives. Trump warned the prospect of a “Fedcoin” or a digital …...
South Korea to Launch CBDC Test With 100,000 Citizens
The Bank of Korea (BOK) has announced plans to launch a pilot program. The program will allow 100,000 Korean citizens to utilize a central bank digital currency (CBDC) by late 2024. The program comes on the heels of a visit from Agustin Carstens, general manager of the Bank for International Settlements. The current plans are …...
Fed Official Calls for Stablecoin Regulation, No Imminent CBDC Decision
Top Federal Reserve supervision executive Michael Barr said Friday that stablecoins require strong oversight to avoid risks. However, he noted the Fed remains undecided on pursuing a central bank digital currency (CBDC). In remarks at a Washington, D.C., conference, Barr stated: Stablecoins Require Federal Regulation Barr expressed deep concern over stablecoins issued without federal prudential …...
Coinbase Report Urges Caution on Emerging Crypto AI Sector
A new report from Coinbase suggests the recent hype and growth around cryptocurrencies related to artificial intelligence may ultimately prove unsustainable long-term without additional progress. The analysis strikes a note of current market enthusiasm, pushing many AI tokens notably higher. Key details: Despite the recent euphoria where crypto assets linked to AI have left Bitcoin, …...
U.S. Still Seeks Do Kwon Extradition Despite Montenegro Court Ruling
American prosecutors vowed Thursday to continue efforts towards extraditing embattled cryptocurrency entrepreneur Do Kwon. This comes even as a Montenegro court cleared the way for his likely return to his native South Korea instead. Key details: In a statement shared by Bloomberg, the U.S. Department of Justice said it will proceed with Kwon’s extradition case …...
Hashlock Review 2024
The Bottom Line: Hashlock stands out in the blockchain security sector with its focus as a smart contract auditor and in-depth work tailored to each client’s needs. With a team of young yet experienced professionals, Hashlock has established itself as a reputable and trusted partner in the industry. Their active involvement in the Australian blockchain …...
Sam Bankman-Fried Continues Legal Fight, Hires Ex-Trump Lawyer
Despite his conviction for fraud last December, Sam Bankman-Fried continues to wage legal battles on multiple fronts to save himself from life imprisonment. The 31-year-old former FTX CEO has hired ex-Trump lawyer Marc Mukasey ahead of a crucial sentencing memo, according to The New York Times. The memo will argue that he deserves minimal jail …...
MicroStrategy Price Target Set at $990 on Bitcoin Growth Forecast
Investment banking firm Benchmark initiated coverage of business intelligence firm MicroStrategy on Tuesday, publishing a ‘buy’ rating and a 2025 share price target of $990. The bold MicroStrategy forecast centers on an assumed future appreciation of the company’s sizable Bitcoin holdings. The analysts expect the BTC stash to swell on factors like SEC spot ETF …...
