Stablecoin Crisis Could Wreck Global Finance, Fed Warns in New Report
The Fed warned that a stablecoin crisis could wreak havoc on the global economy and outlined the steps issuers must take to protect the status quo.
What would the late former Federal Reserve Chair Paul Volcker have thought about digital currencies issued by central banks?
Steven Mnuchin, secretary of the U.S. Treasury, has no issue with the launch of the Facebook-led Libra project – as long as financial rules are followed to the letter.
Federal Reserve governor Lael Brainard has warned that the Facebook-led Libra project faces stiff regulatory challenges and that there's a question mark over one of its core concepts.
The U.S. Federal Reserve is again expanding its balance sheet – prominent experts believe that could bode well for bitcoin in the long run.
Jerome Powell has said his institution is looking into the possibility of developing a digital currency, but the option throws up many policy questions and unclear benefits.