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Though ‘Intriguing,’ Crypto Won’t Dethrone Dollar, Says IMF Economist

News Digital currencies have gained prominence over the last few years, although such options will not budge the U.S. dollar from its seat of prominence, according to chief economist International Monetary Fund (IMF) Gita Gopinath. “Improvements in payment technology may have lowered the cost of s..

U.S. Dollar Czar: “No Need” for Fed Issuing Digital Dollar in Next 5 Years

In recent weeks, there has been growing talk among influential U.S. figures concerning the prospects of “digitizing” the dollar via blockchain technology. Yet there are two major American officials who have once again said they are decidedly skeptical of a digital dollar any time soon: Secretary of..

Crypto Exchange Gemini Burnt One-Fifth of Its GUSD Stablecoin Supply

News Cryptocurrency exchange Gemini burnt about one-fifth of its Gemini Dollar (GUSD) stablecoin total supply on Dec. 3. Whale Alert — a Twitter account dedicated to tracking large cryptocurrency transactions — reported on Dec. 3 that 1,035,020 GUSD were burnt in a single operation. This number of..

British Virgin Islands Announce US Dollar-Backed Digital Currency

News Blockchain startup LifeLabs announced that it is developing a digital currency dubbed BVI~LIFE in partnership with the British Virgin Islands (BVI). According to a press release on Dec. 3, the currency is part of a broader initiative to grow the local fintech sector and will be presented duri..

Fed Chairman Responds to Lawmakers: We’re Analyzing “Digital Dollar”

Questions have recently been swirling in the U.S. around whether the Federal Reserve, the central banking system of the country, would eventually push forward on digitizing the dollar via blockchain tech. Now, Federal Reserve Chairman Jerome Powell has given his clearest positions on how the Fed is..

Why Bitcoin? Argentina Heavily Restricts Purchases of U.S. Dollars

After some months of economic instability, the Central Bank of Argentina has begun to impose restrictions on U.S. dollar purchases by citizens, presumably to stem money from leaving the economy. Many have said that this validates Bitcoin and other decentralized forms of money.Argentina Effectivel..

Bitcoin Investor: Only a Matter of Time Before the Federal Reserve Goes Crypto

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..

CTFC “Crypto Dad” Calls for USD to Transition to Blockchain

“Crypto Dad” J. Christopher Giancarlo, the former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), just called for the powers-that-be in America to transition the U.S. dollar onto blockchain technology. In a new op-ed penned this week, Giancarlo and his former colleage Daniel Gorfi..

Currency War Erupts as US and China Bring Out the Big Guns

What started out as a trade dispute between the world’s two largest economies is now a full-blown currency war as the U.S. and China bring their big guns to the battlefield. The impact on the global financial markets was immediate and severe, driving up safe-haven assets as ordinary people fear losi..

Bitcoin Cannot be Banned, But Can it Be…?

On Tuesday, Senate Banking Committee Chairman Mike Crapo said that the US couldn’t technically ban Bitcoin, given that it is a global innovation. However, in theory, there does exist a handful of ways to kill Bitcoin. US Politicians Agree that Bitcoin is Unbreakable Yesterday, the US Senate Committ..

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