Federal Reserve System | ForkLog

ForkLog 13 02.08.2021

Fed officials say the United States must win the CBDC race

FOMC member Lael Brainard said the United States must accelerate the development of the digital dollar without delay. Reuters reported.

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ForkLog 22 30.07.2021

US to weigh ban on certain stablecoins

The U.S. Treasury could ban certain stablecoins. The proposals are included in a House of Representatives bill to create a comprehensive regulatory framework for regulating the digital assets market.

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ForkLog 23 15.07.2021

Fed chair: the emergence of a digital dollar would dent Bitcoin’s popularity

Fed Chair Jerome Powell questioned the need for stablecoins and cryptocurrencies after the emergence of a digital version of the dollar. The remarks came during Q&A with House lawmakers following his testimony on the state of the economy.

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ForkLog 21 13.07.2021

Avanti CEO Caitlin Long criticises Fed stance on cryptocurrency firms

The U.S. Federal Reserve will make it harder for digital asset–related companies to access the payments system and bank accounts, according to Caitlin Long, founder and CEO of Avanti, a cryptocurrency bank.

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ForkLog 14 30.06.2021

Fed vice-chair urges not to fear stablecoins and questions the case for a CBDC

US authorities must find ways to integrate stablecoins into the financial system. With this statement, Randall Quarles, vice chair of the Federal Reserve System (Fed), spoke.

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ForkLog 5 29.06.2021

New York Fed chief: CBDCs pose challenges for central banks

The potential rollout of national digital currencies (CBDCs) poses a challenge to central banks. This view was voiced by New York Fed President John Williams, according to Reuters.

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ForkLog 13 26.06.2021

The Fed calls the Tether stablecoin a ‘challenge’ to financial stability

The Tether stablecoin (USDT) threatens the stability of the financial system, says Boston Fed President Eric Rosengren.

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uskoryayushhei-sya-fragmentatsii-mirovogo-interneta

ForkLog 24 28.05.2021

Study: Corporate digital currencies could be a viable alternative for large corporations

Under certain conditions, corporations' use of their own digital currency instead of fiat may be a viable solution. This finding comes from a Richmond Fed article. According to the authors, developing and launching the corresponding platform would require significant costs, including cybersecurity measures. In a low and stable inflation environment, corporations are better off using existing payment systems. The situation changes when these costs can be minimized, there is a broad customer base, and inflation rises, forcing consumers to shed fiat. Analysts estimate that for Amazon, issuing and using only its own digital currency would become economically viable if interest rates rise above 11% per year. The figure could be lower if the retailer increases its market share, presently estimated at 6%. Such high figures include substantial costs associated with regulatory compliance. Corporations' interest in issuing their own digital currencies lies in earning seigniorage, a feature of central banks. Among other reasons are increased customer loyalty, data collection, and reduced settlement risks.

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ForkLog 16 24.05.2021

Fed: US must play a vital role in setting CBDC standards

The Federal Reserve System (the Fed) is expanding its work on central bank digital currencies (CBDCs), with a focus on financial and geographic integration. Lael Brainard, a member of the Fed's Board of Governors, said this at the Consensus conference.

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ForkLog 15 21.05.2021

Fed to publish document on potential CBDC issuance

In the summer of 2021, the U.S. Federal Reserve will publish a discussion paper that will supplement the previously initiated study on the advisability of issuing a digital dollar.

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ForkLog 8 29.04.2021

Fed chair signals possibility of issuing a digital dollar

The chair of the Federal Reserve (Fed), Jerome Powell, said there is a possibility of issuing a CBDC and reminded that it is more important to get it right than to compete with others.

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ForkLog 58 23.03.2021

Fed chair Jerome Powell: Bitcoin could replace gold, but not the US dollar

Fed Chair Jerome Powell questioned Bitcoin's suitability as a store of value and a means of payment.

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