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America’s currency has been flirting with lows again, as the U.S. Dollar Index (DXY) dropped to a low of 89 on Tuesday and the following Thursday. This is the third time since April 2018, the DXY has been this weak, and some analysts think the currency could drop even lower. US Dollar ‘Is a Bit … Read more
American financial regulators are considering establishing an “interagency policy sprint team” to address fragmented cryptocurrency regulations. Go to Source Powered by WPeMatico
A Federal Reserve president said he was “quite aware that crypto can be very volatile” but he personally did not see that as a concern for traditional markets. Go to Source Powered by WPeMatico
Cryptocurrency sell-off is not a systematic concern for the Fed and does not affect Fed’s policies, two Federal Reserve Bank presidents said Wednesday. “We are all quite aware that crypto can be very volatile,” said the president of the Federal Reserve Bank of St. Louis. Crypto Sell-off Does Not Change Fed Policy Two Federal Reserve … Read more
Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate. Go to Source Powered by WPeMatico
Billionaire Stanley Druckenmiller thinks some kind of crypto-derived ledger system may replace the U.S. dollar as the world’s reserve currency in the future. Go to Source Powered by WPeMatico
The Electronic Transactions Association (ETA) has put forward a set of guiding principles to be considered in the creation of a U.S. central bank digital currency (CBDC), also referred to as digital dollar. The organization, which unites hundreds of companies in the payments industry, confirms its commitment to ensuring access to financial services for all … Read more
Precious metals (PM) markets have been trading a bit higher in recent days, while cryptocurrency markets have been seeing gains as well. Spot gold prices have jumped to $1,805 per ounce, up more than 1.3% during the last 24 hours, while silver prices have increased by 2.5%. As PMs have gathered strength this week, crypto-asset … Read more
The Federal Reserve’s top supervisory official has called on bank regulators to pay more attention to cryptocurrencies and stablecoins. His comments followed a number of major banks announcing that they will be offering products based on cryptocurrencies, particularly bitcoin, to their clients. Bank Regulators Should Focus More on Cryptocurrency, Says Fed Supervisor The Federal Reserve’s … Read more
Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop shares and the crypto asset dogecoin. Powell said that the Federal Reserve aims … Read more