A division of the Federal Reserve Bank of New York has concluded a monthslong test on the viability of a digital dollar, according to Bloomberg. The experiment, carried out at the Fed’s New York Innovation Center, focused on a technology called a regulated liability network, which allows banks to issue digital money representing their customers’
“My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinum or bitcoin,” Kennedy said, describing his vision for returning to a hard currency standard in the U.S. He added that, depending on the outcome of that initial step, he would increase
Spot Bitcoin exchange-traded fund (ETF) applications from several firms have been published in the Federal Register, moving them one step along in the United States Securities and Exchange Commission’s (SEC) process. According to records updated July 19, the Federal Register received notices of proposed rule changes allowing Bitcoin (BTC) ETF applications from BlackRock, Fidelity, Invesco
A majority of U.S. crypto exchange Coinbase’s revenue could be at risk as a result of the Security and Exchange Commission’s (SEC) crypto crackdown (from NotChaseColeman via Twitter on June 5)…
On Monday, after months of discussions, threats and warnings, the US Securities and Exchange Commission (SEC) took aim at the most powerful force in the world of cryptocurrencies. The US financial watchdog accused the crypto exchange Binance and its founder Changpeng Zhao of operating a “web of deception,” charging him and his exchange with 13
The U.S. Treasury Department and Internal Revenue Service (IRS) should promptly release planned crypto tax rules so the industry can be brought into full compliance, Reps. Brad Sherman (D-Calif) and Stephen Lynch (D-Mass) said in a Monday letter. “For many years, the cryptocurrency industry has been a major source of tax evasion and a significant
It is essentially unanimous inside and outside the world of crypto that bitcoin [(BTC)] is not a security. This is a big competitive advantage for BTC. As the [original] digital gold, BTC also has essentially no competition for its primary use case. Every other cryptocurrency, including [Ethereum (ETH)], has competition. And every other cryptocurrency, including