First, and perhaps foremost, the Fed would be conflicted. As an alternative payment service, stablecoins compete with the Fed’s own payment infrastructure, including FedNowthe central bank’s instant payment service. The Fed’s consideration of a central bank digital currency would leave it further conflicted when regulating privately issued stablecoins, as those two digital representations of the dollar can be seen as substitutes. Any government body, the Fed included, would struggle to objectively analyze private payment innovations that compete with its own services. Giving the Fed the authority to regulate stablecoins unfairly stacks the deck against payment alternatives. Simply put, the fox shouldn’t be allowed to guard the henhouse.
Related Posts
Bitcoin price is selling off after last week’s stellar move to $69,000. Charts suggest BTC price has a bit further to fall. Cointelegraph explains why. Source link Share via: Facebook…
BlockBeats news, on October 24, according to market news, Ripple CEO Brad Garlinghouse said that the XRP ETF is “inevitable.” Brad Garlinghouse and Ripple co-founder Chris Larsen made an appearance…
Ether price is down today after enduring a 9% decline in three days, and data suggests that the altcoin is poised for further downside. Source link Share via: Facebook X…
Analysts often claim China is winning the quantum race but available research indicates otherwise. Source link Share via: Facebook X (Twitter) LinkedIn More
According to BlockBeats news, on October 24, according to HTX market data, Ethereum fell below $2,500 for a short time and is now quoted at $2,502, a 24-hour drop of…
On Sept. 18, 2024, the Federal Open Market Committee (FOMC) lowered its benchmark interest rate by 50 basis points or 0.50%. The move made headlines because it was the first…
The cryptocurrency and decentralized finance (DeFi) ecosystems currently lack access to stable, high-quality collateral besides stablecoin. Crypto and DeFi traders typically rely on volatile assets like bitcoin or ether as…
According to BlockBeats news, on October 23, according to official news, HiBT Exchange will open the SHAR/USDT trading pair in the Innovation Zone (HOT COIN) at 00:00 on October 24,…
[The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a player above at that time.] Rohit Chopra, director of the…
Scroll’s last funding round closed at a fully-diluted valuation of $1.8 billion. Source link Share via: Facebook X (Twitter) LinkedIn More
[smart_post_show id="76610"]
[smart_post_show id="82794"]