On Monday, May 24, Federal Reserve Governor Lael Brainard backed the idea of a central bank digital currency (CBDC) and stated that it could bring along a variety of benefits. The Fed Governor also added that having a Digital Dollar will help to reach out to the “underbanked” people in America. Besides, it will improve
The Chinese central bank – People’s Bank of China (PBoC) – has expedited its efforts on launching its central bank digital currency (CBDC) Digital Yuan. However, the U.S. isn’t quite worried at this point regarding the development of China’s CBDC, said Federal Reserve Chairman Jerome Powell. On Wednesday, April 29, the Fed chairman Jerome Powell
The Bitcoin (BTC) price is moving around $19,000 for a while as everyone is excited about the next move. Global investors and institutions have shown willingness to enter into Bitcoin, in recent times. The health of the global economy seems concerning, as central banks are pumping massive stimulus money into the system. PlanB, the popular
In a recent statement, the Federal Reserve Chairman, Jerome Powell, declared his support towards AMBERIBOR, which utilizes the Ethereum blockchain, as an alternative to LIBOR. Ethereum Based AMERIBOR Vs LIBOR Cryptocurrencies have existed for more than a decade now. However, last year has been quite significant for the industry as it welcomed several big companies
Bitcoin [BTC] price currently stands at the risk of a deflationary crisis. The US Feds announces extreme QE measures in the face of violent spread of Coronavirus. The benchmark rates have been reduced 0%, moreover, it also adds $700 of QE funds to the system as well. This is in addition to the $1.5 trillion
Binance CEO believes that the current turmoil created by the Fed’s QE initiatives will force citizens into crypto. It is just a matter of time. Is Fed’s Move A Blessing in Disguise for Crypto? While SEC continues to strengthen its stance against cryptocurrencies, the Federal Reserve has injected $53 Billion in the banking system. The
The Federal Reserve Board in the US announced a “new round-the-clock real-time payment and settlement service”, called FedNow. FedNow will be supported in the US to provide a safe and efficient system. The Board of Governors of the Reserve not only decided to introduce a new system but also planned to re-design the existing system.