FED’s Powell Doesn’t Think Crypto Risks Financial Stability
The crypto market cap has moved up to $2,2 trillion after the Fed announced they would double the tapering of bond purchase and interest rates will stay the same for now. Fed’s chairman Jerome Powell held a news conference after the decision was taken where he approached several issues on the United States economy and current concerns for its financial stability. Related Reading | Bitcoin, Ether Spike After Fed Announce No Change To Interest Rates When asked about the concerning risks and systemic issues that could affect the U.S. financial stability nowadays, Powell broke it....
Related News
Federal Reserve Chairman Jerome Powell says that he does not see cryptocurrencies as a financial stability concern. However, he noted that they are risky and “there’s big consumer issues for consumers who may or may not understand what they’re getting.” Fed Chair Powell Says Cryptos Are Risky but Currently Not a Financial Stability Concern Fed Chairman Jerome Powell talked about cryptocurrency in a press conference Wednesday. Commenting on whether cryptocurrencies are a threat to the country’s financial stability, he said: I don’t see them as a....
“Stablecoins can certainly be a useful, efficient consumer-serving part of the financial system if they’re properly regulated,” said Jerome Powell. United States Federal Reserve chair Jerome Powell hinted that though the government agency should consider monitoring developments in the crypto space, he didn’t see cryptocurrencies as a financial stability concern for U.S. markets.Addressing a question on crypto from Michael Derby of the Wall Street Journal on Tuesday, Powell supported the conclusions of a report from the President’s Working Group on Financial Markets released on Nov. 1. The....
The chairman of the Federal Reserve, Jerome Powell, says crypto requires new regulation, citing that it presents risks to the U.S. financial system and could destabilize existing financial institutions.
Fed Chair Powell Sees the Need for New Crypto Regulation
Federal Reserve Chairman Jerome Powell talked about the need to establish new regulation for cryptocurrency Wednesday during a panel discussion on digital currencies organized by the Bank for International Settlements (BIS).
Noting that new forms of digital money, including cryptocurrencies and stablecoins,....
The Financial Stability Oversight Council (FSOC), a group of U.S. regulators, warned that bitcoin and blockchain are threats to financial stability and noted they need to adapt to the changing market structure if cryptocurrency reduces the importance of traditional centralized intermediaries. The FSOC includes the Federal Reserve, the Securities and Exchange Commission and the Treasury Department. The Council is charged with identifying risks to the financial stability of the United States, promoting market discipline, and responding to emerging risks to the stability of the financial....
The International Monetary Fund (IMF) warns that the rising popularity of cryptocurrencies poses new challenges to financial stability. “Cryptoization can reduce the ability of central banks to effectively implement monetary policy. It could also create financial stability risks.” IMF Sees New Challenges to Financial Stability From Crypto The International Monetary Fund (IMF) warned about the risks posed by the cryptocurrency boom in a blog post published Friday. The post, titled “Crypto boom poses new challenges to financial stability,” is authored by three....