Fed Chairman: ‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold

Fed Chairman: ‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold

Fed Chairman Powell has said that a globally prevalent cryptocurrency could conceivably remove the need for reserve currencies. The Chairman of the United States Federal Reserve has said that a globally adopted cryptocurrency system could conceivably remove the need for reserve currencies. Testifying before the Senate Banking Committee on July 11, Fed Chairman Jerome Powell gave his analysis of whether a cryptocurrency system with global prevalence could diminish — or even go so far as…

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Fed Chair Says Facebook Needs to Satisfy Regulatory Concerns Regarding Libra

Fed Chair Says Facebook Needs to Satisfy Regulatory Concerns Regarding Libra

Federal Reserve chair says time is needed to address concerns about Libra, and that the project cannot move forward until there is broad satisfaction on regulatory policies. Federal Reserve Chair Jerome Powell said there needs to be broad satisfaction with the way Facebook is handling regulatory concerns regarding its forthcoming stablecoin Libra. Powell gave his comments in a hearing before the House Financial Services Committee on July 10.Rep. Steve Stivers asked Powell during the…

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