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Analysis A bit of historical research was making the rounds on social media recently, a monograph that compares the 21st century emergence of Bitcoin, encryption, the internet and millennials with the Protestant Reformation that shook Europe in the 16th and 17th centuries. The two events have sim..
News Stablecoins could “complement” other payment systems and improve conditions for consumers, but need constant checks, says the United States Federal Reserve. In its November 2019 Financial Stability Report released on Nov. 15, the Fed highlights stablecoins and their potential impact on the U...
Analysis Back in the early days, when Bitcoin (BTC) was but a niche experiment for cypherpunks and basement-dwelling hobbyists, the process of its creation required little more than a budget CPU. Since that time, however, an entire industry has sprung forth and a quasi-gold rush rivaling that of t..
News The United States Federal Reserve is hiring a manager for its Retail Payments section in Washington, D.C. On Nov. 3, the U.S central bank posted a new job opening to its website, looking for a new manager who is expected to contribute to the research of digital currencies, stablecoins and dis..
Follow up Recently, the National People’s Congress in China cleared a new law that will allow local authorities to start regulating all of the country’s cryptography-related activities starting from Jan. 1, 2020. By creating a new regulatory framework, the Chinese government is looking to establis..
If you’ve followed the cryptocurrency news cycle at all over the past few months, you likely have noticed the trend of central bank digital currencies (CBDCs). With the launch of Facebook’s Libra, which is slated to become a global digital asset used by hundreds of millions of distributed users, go..
News A member of the Federal Reserve’s Board of Governors has said that Facebook's Libra could pose risks to consumers due to a lack of clarity over their rights with respect to the token’s underlying assets and to the system overall. Lael Brainard — who chairs the Fed’s Committees on Financi..
News Facebook’s crypto project Libra will potentially create a “shadow banking” system, according to the banks at the Federal Advisory Council (FAC). U.S. banks fear Libra will reduce payment volumesAfter the United States Federal Reserve asked some of the nation’s largest banks about Libra, the b..
Analysis In 2018, the executive on the board for the European Central Bank (ECB) declared Bitcoin, “the evil spawn of the financial crisis” — referring, of course, to the economic disaster 10 years prior. Interestingly, also born from the ashes of the mortgage crisis was the United States governme..
On Wednesday, the Federal Reserve’s Federal Open Market Committee (FOMC), the entity responsible for deciding in which direction policy interest rates should head, issued its latest decision. As the market expected, the American central bank decided to cut interest rates by 25 basis points (0.25%),..