Former CFTC Chairman Chris Giancarlo has moved from regulating digital currencies to fighting for one with the launch of the Digital Dollar Foundation.
While China and the European Union rush forward on creating a digital currency, the U.S. doesn’t see the need for one in at least the next five years, said Treasury Secretary Steven Mnuchin.
Federal Reserve Chairman Jerome Powell poured cold water on the idea of a United States-issued central bank digital currency happening anytime soon. Responding to two Congressmen, Powell wrote, “it is not yet clear what additional value a general purpose CBDC could provide in the U.S.”
The union of cryptocurrency and Wall Street is much like a Medieval arranged marriage: A little bit of wealth is at stake but everyone seems miserable and most people involved are in need of a bath. Few are as upset about the whole thing as those who are involved in crypto for ideological reasons—or, at least, those who say they are.