Category: Federal Reserve

US Fed researcher says CBDCs should beat Big Tech payments on privacy protection

November 23, 2020

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The paper also put forward CBDCs as solutions to high transaction fees and the energy use of mining cryptocurrencies like Bitcoin. Cash usage has lost a ton of ground to digital payments as the pandemic has changed the way people transact worldwide. Some experts have recently argued that central bank digital currencies could solve the […]

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Morgan Creek CEO Says Bitcoin Doing ‘Extremely Well’ Due to Fed Reserve’s Dollar Devaluation

November 20, 2020

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Nov 20, 2020 at 10:39 a.m. UTCUpdated Nov 20, 2020 at 2:36 p.m. UTC Mark Yusko, founder and CEO of Morgan Creek Capital Management(Morgan Creek) Morgan Creek CEO Says Bitcoin Doing ‘Extremely Well’ Due to Fed Reserve’s Dollar Devaluation The U.S. Federal Reserve and the rise of “zombie companies” is prompting investors scramble to hedge […]

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Privacy should be at the core of CBDCs, says Boston Fed research director

November 13, 2020

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Privacy should be a key talking point from the beginning of CBDC development. 21782 Total views 52 Total shares Robert Bench, the Federal Reserve Bank of Boston’s director of applied research, thinks privacy should be a focus during the creation of digital money, not an afterthought.  “Privacy is a question that we have learned is […]

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First Mover: Why the Fed Cares About Remote Working – And What It Means for Bitcoin

November 13, 2020

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Nov 13, 2020 at 2:02 p.m. UTCUpdated Nov 13, 2020 at 2:31 p.m. UTC Even central bankers are working remotely these days – and having perfectly robust discussions of everything from the economy to stimulus to central bank digital currencies to telework. (ECB/CoinDesk) First Mover: Why the Fed Cares About Remote Working – And What […]

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Debate Rages on Whether a Digital Dollar Will Unleash Inflation

November 9, 2020

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DoubleLine CEO Jeff Gundlach warns of inflation with a digital U.S. dollar. (DoubleLine Capital) Debate Rages on Whether a Digital Dollar Will Unleash Inflation With record U.S. money printing failing to achieve much-needed economic stimulus, some observers now expect creation of a “digital dollar” central bank digital currency (CBDC) will not only speed payments to […]

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US Moves to Cast a Wider Net for Catching Money Launderers, Crypto or Otherwise

October 23, 2020

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Oct 23, 2020 at 18:35 UTCUpdated Oct 23, 2020 at 19:31 UTC (Rob Crandall/Shutterstock) US Moves to Cast a Wider Net for Catching Money Launderers, Crypto or Otherwise The Federal Reserve, the U.S.’ central bank, published a proposed rule change Friday asking about the recording requirements for money transfers involving virtual currencies. According to the rule […]

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Russia doesn’t need to be first with a digital currency, says state expert

October 23, 2020

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Russia is purportedly taking a fast-second strategy for the digital ruble. 4718 Total views 38 Total shares A Russian official argued that the country should have launched research on a central bank digital currency four years ago in order to claim leadership in the field. However, according to Dmitry Peskov, a special representative of the […]

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Pomp says US digital dollar needs to happen now

October 20, 2020

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The U.S. doesn’t mind coming a bit late to the CBDC party, but is that the wrong approach? 5084 Total views 28 Total shares Recent comments from Jerome Powell, the chairman of the United States Federal Reserve, show the American government is not especially concerned with speed when it comes to developing a central bank digital […]

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New Zealand has no imminent plans to issue CBDC, says central bank exec

October 20, 2020

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Important questions about CBDCs remain unanswered for the Kiwis’ central bank. 5540 Total views 28 Total shares Financial authorities in New Zealand are in no hurry to issue a central bank digital currency, or CBDC, according to a central bank executive. Christian Hawkesby, assistant governor at the Reserve Bank of New Zealand, claimed that the […]

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Major Meeting of Central Banks Produces Same Old ‘Evaluating’ CBDCs Refrain

October 19, 2020

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Oct 19, 2020 at 14:53 UTCUpdated Oct 19, 2020 at 15:17 UTC Federal Reserve Chairman Jerome Powell (Wikimedia Commons) Major Meeting of Central Banks Produces Same Old ‘Evaluating’ CBDCs Refrain Central bankers continued to evaluate the merits, or lack thereof, of a digital currency (CBDC), explaining that digital innovation has its benefits but policy considerations […]

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