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Fed Vice Chair Quarles Says Digital Dollar Could Pose Significant Risks to US Banking System
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Fed’s Vice Chair for Supervision Calls on Bank Regulators to Pay More Attention to Cryptocurrency
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FSB releases recommendations to regulate ‘global stablecoins’ such as Libra
The Financial Stability Board has warned that global stablecoins could pose systemic risks to the monetary systems of nation-states.
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G20 Considers 10 Rules for Regulation of Stablecoins Like Facebook Libra
The G20 is setting rules to regulate stablecoins such as Facebook’s Libra cryptocurrency. Responding to a call by the G20, the Financial Stability Board (FSB) has provided 10 “high-level” recommendations that establish a regulatory framework for stablecoins. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed G20 Sets International Rules […]
The post G20 Considers 10 Rules for Regulation of Stablecoins Like Facebook Libra appeared first on Bitcoin News.
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Cryptocurrency Could Kill Bank Lending, Warns Bank of England Deputy Governor
In the cryptocurrency economy, the supply of credit through the banking system could disappear, warned Bank of England Deputy Governor Sir Jon Cunliffe. That would be a change with “profound economic consequences,” he added, emphasizing the risks from Facebook’s Libra project and global stablecoins. Also read: SEC Karate-Chops Steven Seagal Over Promoting Cryptocurrency Touted as […]
The post Cryptocurrency Could Kill Bank Lending, Warns Bank of England Deputy Governor appeared first on Bitcoin News.
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G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standards
The G20 finance ministers and central bank governors had their first 2020 meeting this weekend in Saudi Arabia. They discussed cryptocurrencies and stablecoins, and issued a statement urging countries to implement the cryptocurrency standards set by the Financial Action Task Force. They were also informed that the Financial Stability Board will soon issue its crypto […]
The post G20 Kicks Off 2020 Discussion on Cryptocurrencies — Urges Countries to Apply FATF Standards appeared first on Bitcoin News.
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Indian Finance Minister Answers Crypto Questions at IMF Meeting
At an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court Postpones Crypto Case to November, New Date Confirmed Finance Minister Talks Crypto At the […]
The post Indian Finance Minister Answers Crypto Questions at IMF Meeting appeared first on Bitcoin News.
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G20 Informed Stablecoins Could Pose Financial Stability Risk
The Financial Stability Board has informed the G20 finance ministers and central bank chiefs of the risks stablecoins could pose to financial stability. Unlike crypto assets which do not pose financial stability risk at this time, stablecoins could pose a host of challenges. Also read: Unicef Launches Cryptocurrency Fund Financial Stability Risk The Financial Stability […]
The post G20 Informed Stablecoins Could Pose Financial Stability Risk appeared first on Bitcoin News.
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Financial Stability Board: Stablecoins ‘May Pose Regulatory Challenges’
Stablecoins could pose “regulatory challenges,” says Randall Quarles, chair of the Financial Stability Board
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