Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for ...

Former Federal Reserve Chairman Ben Bernanke has been awarded a Nobel Prize in Economics. The Nobel Prize committee believes that he “significantly improved our understanding of the role of banks in the economy, particularly during financial crises.” Many people, however, blame Bernanke for getting us “to the brink of collapse and under a mountain of debt with quantitative easing.” Former Fed Chair Ben Bernanke Wins Nobel Prize in Economic Sciences The Royal Swedish Academy of Sciences announced Monday that it has decided to award the Sveriges....

Former Federal Reserve chairman Ben Bernanke offered both muted praise and criticism when discussing bitcoin in a new interview, suggesting that government oversight of blockchain transactions could counter perceived risks. Speaking toQuartz, Bernanke said that bitcoin is "interesting from a technological point of view", pointing to wider developments in the emerging payments space. "We're in a world where the payments system is evolving quickly and new approaches to managing payments are proliferating, and some of the ideas around bitcoin will no doubt be useful in doing that," he told....

China has shut down many underground cryptocurrency apps. A total of 13 underground trading applications have shut down after putting a ban on them for almost one year. As suggested by reports, China, which happens to be the world’s second-largest economy, has called crypto-related transactions illegal. China regulators have taken down 23 crypto-media websites and […]

Federal Reserve Chair Jerome Powell told participants at the Bay Area Council Business Hall of Fame Awards Ceremony on Tuesday that the economy will never be the same after Covid-19. According to Powell, the use of accelerated technology will change the way the global economy operates as his commentary was quite similar to the recent “Great Reset” agenda. This week the Federal Reserve Chair, Jerome Powell spoke about the economy and how he thinks things will be quite different going forward. Powell spoke at the annual Bay Area Council Business Hall of Fame Awards Ceremony on....

Five underground economy forums were closed and arrests made by the German Law Enforcement Agencies in the recent days. Bitcoin has gained the notoriety of being the criminal’s currency. The use of bitcoin on the deep web marketplaces like Silk Road since its early days has garnered the public’s interest in the digital currency. In its initial days, bitcoin was considered to be completely anonymous. The assumed anonymity combined with ease of transaction made it a preferred currency for the underground economy. However, it has been proven that the bitcoin transactions are pseudonymous at....