US Fed to launch FedNow instant payment service amid fears it could end CBDC interest
FedNow gives users an instant 24/7 settlement service—part of the key appeal of a CBDC—and is fully endorsed by the Fed and commercial banks, unlike a CBDC.
Latest Federal Reserve News
Digital dollar is the only way US can fight ‘China’s surveillance coin,’ ex-CFTC boss says
Christopher Giancarlo, who served as the 13th chair of the Commodity Futures Trading Commission, has called for accelerated digital dollar efforts but warned against using it to surveil users or levy fines.
Systemic risk and digital assets
The impact of FTX's collapse may be largely restricted to the digital asset industry, but one effect the crisis had outside of the space was to put the concept of systemic risk back onto the agenda.
US Fed, OCC urge banks to be cautious with digital assets
The two joined the FDIC in issuing a statement saying 2022’s events exposed the vulnerabilities of the sector, urging banks to keep digital currencies at arm’s length.
Why a Fed pivot won’t save ‘crypto’
The Federal Reserve’s decision to raise interest rates is a reaction to the current market condition, which is facing headwinds, including inflation, stimulus checks, and the new pandemic work-from-home culture.
Fed’s policy has never been this tougher in the entire history of digital currencies
The U.S. Federal Reserve’s monetary policy has taken a toll on the digital asset industry, as observed in the sharp drop in retail activity and space participation.
Gareth Soloway tells CoinGeek Weekly Livestream FTX fiasco will bring final market flush out
Gareth Soloway joins Kurt Wuckert Jr. on CoinGeek Weekly Livestream, sharing his thoughts on the FTX collapse, the bear market, and the possible recession in 2023.
NY Federal Reserve testing CBDCs to improve foreign exchange transactions
The exploration is part of Project Cedar, an experiment conducted by the BIS to test the worthiness of wholesale CBDC in cross-border transactions.
Joshua Henslee deep dives into BTC’s ironic about face with the Fed in the Messy Times
In his Messy Times guesting, Joshua Henslee bares the negativity surrounding CBDCs, the original Bitcoin protocol on BSV, and how mainstream Bitcoin will destroy firms that overstep their mark.
Fed chair says DeFi isn’t transparent enough
James Powell, backed by prominent financial regulators, highlights the need to enforce appropriate directives to deal with "issues" concerning DeFi before they snowball and create a big mess.
Myanmar’s exiled government turns to digital currencies as last resort against ruling junta
In a last-ditch effort to restore democracy, Myanmar's ousted government seeks the help of the U.S. to use frozen funds as digital assets, while the ruling junta shows no signs of giving up power.
Why did ‘crypto’ go risk-on from risk-off?
The risks of investing in the digital currency industry remain high as Fed continues to tighten its policies to counter inflation, while fear spreads among potential investors caused by manipulative platforms.