09/09/19 09:25 UTC-4

The US Federal Reserve is not going to issue a crypto: "consumers do not need this"

CryptocurrencyCrypto-dollar is not an option for the Federal Reserve
Crypto-dollar is not an option for the Federal Reserve

The head of the Federal Reserve System (FRS) Jerome Powell said that the regulator is not considering the possibility of issuing a crypto-dollar. According to the chairman, the Fed adopted this decision because of concerns about cybersecurity, and there is no particular demand for cryptocurrency.


The Federal Reserve does not want to issue crypto-dollar

According to Yahoo! Finance, Powell said that the regulator "monitors cryptocurrencies", but the release of the US national cryptocurrency by the United States Federal Reserve does not "actively considering."

According to him, the crypto-dollar should have been completely safe, because if attackers manage to crack such a currency, they will be able to "create it as much as they want."

And there is no demand among citizens for such a currency, since consumers already have a lot of "payment options," Powell says.

As for the Libra cryptocurrency from Facebook, Powell is confident that it "must meet the highest expectations in the field of regulation and supervision."

Interesting in the section: Waves: project uniqueness

  • In another part of the world – the People's Republic of China – a completely different attitude to national cryptocurrencies. The Central Bank of China has almost completed the development of crypto-yuan and is due to submit it soon. In the development of power, they used blockchainBlockchain
    is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
    and other innovative technologies
  • Libra, on the other hand, is meeting more and more resistance from the authorities. In early September, European Central Bank Board member Yves Mersch stated that Libra could undermine the regulator’s control over the euro and hit the banking system. Prior to this, the European Commission opened an antitrust investigation against Libra, and in the US senators are considering a bill prohibiting large private companies from issuing their own currencies.


Editor: Jerg Wos

See also: "Charles Schwab brokerage giant rejects cryptocurrencies"

#CBDC #Federal Reserve #USA #Cryptocurrency #Cryptodollar #Libra #Facebook



23/08/19 22:00 UTC-4

Out: Libra founders are preparing an "escape" from the project

​The Libra Association (the organization that should develop Facebook’s cryptocurrency) has 28 members. They include such giants as Visa and Uber. Now at least 3 members are trying to get out of the project because of criticism from regulators.