Fed conference hears stablecoins may boost USD as global reserve currency
The underlying tech of a central bank digital currency wasn’t enough to convince some panelists at a Fed conference that it could change the international currency system. A note published by the United States Federal Reserve on a recently held conference found a majority of exports believe a U.S. dollar central bank digital currency (CBDC) would not drastically change the global currency ecosystem. Panelists at the conference also agreed CBDC development outside of the U.S. doesn’t threaten the status of the dollar, but th development of cryptocurrencies could alter the role of the dollar....
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Blockchain for Europe has called for targeted reforms to the European Union’s (EU) landmark crypto framework in a new report, seeking to boost the global competitiveness of Euro-denominated stablecoins. Related Reading: Here’s What Happened In The Donald Trump Crypto Meeting With $TRUMP Holders Euro Stablecoins On The ‘Regulatory Laffer Curve’ Downside On Monday, Blockchain for […]
On-chain data shows stablecoins reserve has hit a new all-time-high (ATH), here’s what it could mean for Bitcoin’s price based on past patterns. Stablecoins All Exchanges Reserve Achieves New ATH As pointed out by a CryptoQuant post, the all exchanges stablecoins reserve has spiked up and reached a new ATH. Past pattern of the indicator might help predict how Bitcoin’s price will move next. The all exchanges stablecoins reserve is a metric that measures the amount of stablecoins present on all centralized exchanges. When the value of this indicator goes up, it means more....
On-chain data shows Bitcoin dry powder has been accumulating on exchanges as stablecoins reserve exceeds $19 billion. Stablecoins Reserve Crosses $19 Billion As pointed out by a CryptoQuant post, exchanges now hold stablecoins worth more than $19 billion. Such a large reserve might mean enough dry powder for Bitcoin to make a big move soon. […]
Michael Barr, a high-ranking official at the US Federal Reserve, expressed concern over the growing use of “unregulated” stablecoins pegged to the dollar. Many popular stablecoins are designed to mirror the value of the USD. Stablecoin Adoption Risky For US Payment System: Barr In a prepared speech addressing attendees of a fintech conference at the Federal […]
The job listing follows comments made by Fed Chair Jerome Powell in recent weeks where he said the central bank needed “better regulatory answers” for global stablecoins.