US Fed Governor: Digital Currency Could “Make It Easier To Hide Illegal Activity”
The US Federal Reserve has again warned of the risks associated with digital currencies, this time focusing on security “trade-offs” for central banks. In a speech at Yale Law School, Governor Jerome H. Powell said that banks may find themselves in a catch-22 situation regarding the use of digital currencies and even the industry-coined “distributed ledger” technology. “Advanced cryptography could reduce vulnerability to cyber attacks but make it easier to hide illegal activity. To the extent we relax strong cryptography to make it easier for authorities to monitor illegal activity, we....
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Governor Jerry Brown, once known, affectionately on the Left and sarcastically on the Right as “ Governor Moonbeam” demonstrated that while he seems to have moved toward a conservative bent in his later years he still has a Progressive heart. Along with a slew of other Bills, including one to repeal the requirement that food handlers wear gloves, the Governor signed into affect Assembly Bill 129, which in effect repealed the law that made it illegal to recognize any but official currency. The Bill first made clear that under Title 18, Section 474 of the U.S.C., and current California law....
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic.
Top Banker Confirms Crypto Trading Still Illegal in Iran
The purchase and sale of cryptocurrencies or using the digital assets for investment purposes is prohibited, the governor of the Central Bank of Iran (CBI), Ali Salehabadi, has recently told local media. At the same time,....
Haruhiko Kuroda, the governor of the Bank of Japan (BOJ), has said the bank is currently not planning to launch a digital currency. The remarks come just a few days after the BOJ announced the commencement of the second phase of central bank digital currency experiments. Role of CBDC in People’s Lives The governor of the BOJ, Haruhiko Kuroda, recently disclosed the central bank’s stance on issuing a digital currency has not changed — it will not issue a central bank digital currency (CBDC). The governor, however, insisted the BOJ will still continue “to....
The Governor of Reserve Bank of India (RBI), Raghuram Rajan, has said that an "active market intelligence" mechanism on cryptocurrency is needed at present to ensure that any illegal transaction happening in the country becomes easily traceable for the law enforcement agencies. Rajan further disclosed that while RBI, at this stage, is not intervening in the digital currency market, yet it is watching it closely. Describing the digital currency market as "very very small" the governor of RBI also said that "our philosophy is that if it is small then let it develop, let us see how it works....
Federal Reserve Governor Christopher Waller says he is not a big fan of the Fed issuing a central bank digital currency (CBDC). “It’s just a checking account at the Fed,” said the governor. Federal Reserve Chairman Jerome Powell recently said that the central bank has not decided whether to issue a digital dollar. Fed Governor Skeptical of CBDCs Federal Reserve Governor Christopher Waller shared his view on central bank digital currencies (CBDCs) Tuesday during the Money 20/20 conference in Las Vegas. Commenting on the Federal Reserve issuing a digital dollar, he was....