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Regulation: U.S. Treasury Held Two Meetings With Financial Industry Executives And Representatives Of Crypto On Stablecoins This Week

Earlier this week, the U.S. Treasury Department met with financial industry executives and some representatives of the crypto industry to discuss regulation, risks, and benefits of stablecoins, Reuters reported. Washington lawmakers say they are “alarmed” at how fast the cryptocurrency market is growing according to people familiar with the meeting who spoke to Reuters. As… Read More

Jerome Powell: “A Digital Dollar And Physical Cash Must Co-Exist”

Jerome Powell has stated that a central bank digital currency (CBDC) won’t remove the need for physical cash in the near future. Instead, a digital U.S. dollar would work in tandem with the physical fiat version. Powell repeated a key point made in a recent Bank for International Settlements report the Fed contributed to, stating,… Read More

Federal Reserve Lashes Out at Stablecoins in Recent Report

In a report released by the Federal Reserve, the US Central Bank, stablecoins were cited as a risk to the stability of the global financial system. In the FED’s ‘Financial Stability Report’ the stablecoin market, and how they are structured, were talked about in less-than-favorable terms. According to the report: “In an extreme scenario, holders… Read More

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