• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home UK

Jerome Powell says crypto and a US CBDC would coexist

CB4U by CB4U
January 12, 2022
in UK
0
Jerome Powell says crypto and a US CBDC would coexist
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Cryptocurrencies and a US central bank digital currency can coexist, according to comments made by Federal Reserve Chair Jerome Powell.

The Fed chair said this when answering a direct question on the topic from Sen. Pat Toomey during Powell’s re-nomination hearing on Capitol Hill.   

The lawmaker wanted to know if there was anything that would prevent the coexistence of a Fed digital dollar and stablecoins. 

According to Business Insider, Powell responded with a “no, not at all.”

His response suggests that if Congress okayed a CBDC and Fed were able to launch one, nothing would “preclude a well regulated, privately issued stable coin from co-existing” within the same financial system as the digital dollar.

An example would be USD Coin (USDC), a US dollar-pegged stablecoin launched by Circle and Coinbase. 

Crypto report ready

Powell also said that the long-overdue report on digital currencies should be out soon, putting the timeline towards that within weeks.

He told Sen. Mike Crapo that the report on cryptocurrencies was ready and that the delay in releasing it was largely down to monetary policy adjustments.

He noted that coming up with the report was a tough task and that the agency “didn’t get it quite to where [it] needed to get it.” However, it’s now ready for publication.

“The report really is ready to go and I would expect we will drop it, I hate to say it again, in the coming weeks, but it really is in a situation where it’s ready to go,” the Fed Chair reiterated.

According to Powell, the structure of the engagement with the report will mainly constitute “asking questions and seeking input from the public,” and not merely taking predetermined positions on issues.

But that doesn’t mean that the Fed wouldn’t be taking positions, he added.

Powell said in December that he didn’t think crypto posed any threats to the stability of the US financial system. He also earlier told Congress that the Fed was not looking to take China’s route and ban cryptocurrencies.

Advertisement Banner
Previous Post

Elrond acquires payments provider Utrust in a bid to bring crypto to millions of merchants

Next Post

Most Crypto Users Believe Cryptocurrency Payments Will Become a Standard, Paysafe Study Reveals

CB4U

CB4U

Next Post
Most Crypto Users Believe Cryptocurrency Payments Will Become a Standard, Paysafe Study Reveals

Most Crypto Users Believe Cryptocurrency Payments Will Become a Standard, Paysafe Study Reveals

Discussion about this post

RECOMMENDED

Crypto News Today – Celsius, Matic, Bitcoin, & Ethereum Updates!

Crypto News Today – Celsius, Matic, Bitcoin, & Ethereum Updates!

6 months ago
TOP 3 Crypto To Invest In Now with HUGE POTENTIAL in 2021

TOP 3 Crypto To Invest In Now with HUGE POTENTIAL in 2021

9 months ago

DON'T MISS

Argo Blockchain hit with class action lawsuit over IPO misinformation

Argo Blockchain hit with class action lawsuit over IPO misinformation

January 27, 2023
Only 15% of UK Crypto Firms Have Been Issued Licenses

Only 15% of UK Crypto Firms Have Been Issued Licenses

January 27, 2023
eCash Bulls In Position, Signalling Fresh XEC Price Increase – Is It Time To Buy?

eCash Bulls In Position, Signalling Fresh XEC Price Increase – Is It Time To Buy?

January 27, 2023
FTX and Alameda Research Collapse Sad Event but ‘Good for the Long Run’ Says DWF Labs Managing Partner – Interview Bitcoin News

FTX and Alameda Research Collapse Sad Event but ‘Good for the Long Run’ Says DWF Labs Managing Partner – Interview Bitcoin News

January 27, 2023
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

Argo Blockchain hit with class action lawsuit over IPO misinformation

Argo Blockchain hit with class action lawsuit over IPO misinformation

January 27, 2023
Only 15% of UK Crypto Firms Have Been Issued Licenses

Only 15% of UK Crypto Firms Have Been Issued Licenses

January 27, 2023
eCash Bulls In Position, Signalling Fresh XEC Price Increase – Is It Time To Buy?

eCash Bulls In Position, Signalling Fresh XEC Price Increase – Is It Time To Buy?

January 27, 2023

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
en English
en Englishja Japaneseko Koreantl Filipinovi Vietnamesehi Hindibn Bengalita Tamilzu Zulusw Swahilide Germanfr Frenches Spanishpt Portugueseru Russian