The dilemma around cryptocurrency is increasing, and the use of Central Bank Digital Currency “CBDC” is surging on more countries’ soil. To weigh this, New York has now been added to the list of the famed states that have been launching CBDCs. The Innovation Center of the Federal Reserve Bank
For the economy to go forward, Powell said that inflation has to level off. Michael Saylor has justified the company’s choice to invest in Bitcoin. With an increase of 0.75 percent, the Federal Reserve raised interest rates to their highest level since 1994. The move to raise interest rates was
Experimentation and technical research have been used to investigate CBDC. The Federal Reserve says it is the safest method of expanding payment alternatives. CBDC, which is expected to be widely accessible, will become the Federal Reserve’s liability instead of ordinary currency, which will be the central bank’s responsibility. Currently, the
US Senator Cynthia Lummis revealed a major legislative plan aimed at the Federal Reserve and made a major revelation while remarking on Trump’s victory. The United States intends to establish a strategic Bitcoin reserve, which she again emphasized. American voters have been diligently following the progress of campaign pledges ever
Senator Cynthia Lummis of Wyoming is reportedly preparing to unveil groundbreaking legislation at the upcoming Bitcoin 2024 conference in Nashville, aiming to elevate Bitcoin to a strategic reserve asset on par with gold. This move could change U.S. monetary policy and significantly elevate Bitcoin’s status in the financial landscape. The
When a federal court in Wyoming rejected requests to dismiss filed by the Federal Reserve and the Federal Reserve Bank of Kansas City, Custodia Bank gained ground in its legal struggle against the Fed. In June of 2022, the digital asset bank filed a lawsuit against the Federal Reserve over
Despite the disastrous debt limit issue, US Federal Reserve officials are considering more rate rises, including the presidents of the Federal Reserve Banks of Minneapolis and St. Louis. The debt limit agreement will affect the price of Bitcoin because the US Treasury will issue government bonds to replenish funds depleted
In an 86-page report published on March 24. The United States Federal Reserve explained why it had rejected Custodia Bank’s membership application back in January. Among them, the bank’s crypto-related activities also finds a place. The report claims that the Fed’s board has expressed concerns about banks with business strategies
Federal bank regulatory authorities in the United States have released a statement on the risks of cryptocurrencies to banking organizations. On Jan. 3, the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) issued a joint statement regarding the challenges that
Brainard urged U.S. banks and software developers to prepare for the debut. The Vice-chair said the service’s use of cloud computing made it possible. FedNow, a new payment facilitation system that the Federal Reserve plans to roll out, may reduce the need for a central bank digital currency. It is
