• digital dollar private sector powell
    Cryptocurrencies,  Politics,  Regulation,  Technology

    Building digital dollar requires private sector’s help: Fed Chairman

    Jerome Powell told an international financial conference that ‘the private sector has the experience and expertise’ needed to help build digital currencies

    The chairman of the Federal Reserve said today that the U.S. government will have to work with private firms to improve the way money is moved around the world. Speaking via video at a Bank for International Settlement (BIS) conference in Basel, Switzerland on March 18, Jerome Powell acknowledged that the current system of cross-border payments needs to be improved and digitalized. He said: “The COVID crisis as brought into even sharper focus the need to address the limitations of our current arrangements for cross-border payments.” It has, he said, “shined a light on the less efficient areas of our current payment system and accelerated the desire for improvement and digitalization.” A key…

  • Yellen crypto only curtail malign activities
    Cryptocurrencies,  People,  Regulation

    Janet Yellen clarifies crypto stance: Only wants to curtail ‘malign activities’

    ‘I think it important we consider the benefits of cryptocurrencies and other digital assets,’ the pick for U.S. Treasury Secretary says

    The former U.S. Federal Reserve chair said that she wanted to “curtail” the use of digital assets—amid concerns that it could be used for money laundering and the financing of terrorism. But in a written submission to the Senate Finance Committee, Yellen’s approach to Bitcoin and other digital assets seemed to be a little softer.

  • markets report bitcoin price
    Bitcoin

    Markets Report: Bitcoin needs $11,500 daily close as wild $20M price theory hits

    Central bank balance sheet correlation theoretically implies a Bitcoin price of $20 million, a “fun” quant analysis reveals

    Bitcoin lingered near $11,500 on August 28 as analysts delivered fresh bullish price projections that ran as high as a giant $20 million. Data from price tickers including CoinMarketCap showed fairly flat action for BTC/USD overnight to Friday, in the aftermath of the Federal Reserve’s inflation speech.

  • markets report bitcoin price
    Bitcoin

    Markets Report: Bitcoin shuns $11,500 support as $9,600 dip remains on the radar

    Opportunities for dips near or even below $10,000 are still there, one analyst says as markets await Fed direction

    Data from price trackers including CoinMarketCap showed weakness continuing in BTC/USD overnight on Wednesday. After a brief run to 24-hour highs of $11,530, downward momentum took hold again, with the pair sinking to lows of $11,340. At press time, $11,370 formed a focal point as traders both within and outside cryptocurrency closely eyed macro developments.