U.S. Federal Reserve
Recent News About U.S. Federal Reserve
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Federal Reserve Governor Bowman raises concerns over interchange fees and regulatory policies affecting credit card processing industry
In a speech delivered at the 2023 Ohio Bankers League "Main Event" in Columbus, Ohio, Federal Reserve Governor Michelle W. Bowman expressed concerns over regulatory proposals that could impact credit card processing and related industries.
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Belshe: 'The industry is changing tremendously'
In the realm of finance's future, a unique column by Fortune Magazine, titled "Future of Finance," engages prominent figures within major companies, delving into their roles, their company's integration within the crypto ecosystem and the implications of this evolution on the usage of currency.
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Santiment: 'Certain influential entities were aware of the anticipated rise in crypto market capitalization'
Bitcoin (BTC) embarked on a robust rally Aug. 29 in response to a U.S. court's verdict that the U.S. Securities and Exchange Commission erred in rejecting crypto asset manager Grayscale's bid to transform its bitcoin trust into an exchange-traded fund (ETF), with the court deeming the decision as "arbitrary and capricious."
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After Grayscale's win against SEC, Bernstein says spot bitcoin ETFs can finally take off
On Aug. 29, a federal court issued a ruling that increases the likelihood that the SEC will grant approval for various applications for bitcoin spot exchange-traded funds (ETFs).
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Bitcoin's value has experienced a significant crash
Bitcoin's value has experienced a significant crash, attributed to a broader apprehension within the financial markets, with the leading cryptocurrency witnessing a decline of more than 7%.
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Chinese government official sentenced to life in prison
A Chinese government official was sentenced to life in prison Aug. 22, due to his involvement in illegitimate business operations associated with a 2.4 billion Chinese yuan Bitcoin mining venture, alongside unrelated corruption.
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Bitcoin enthusiasm wanes alongside other crypto currencies
Amidst what was initially perceived as the imminent approval of a spot-based Bitcoin exchange-traded fund (ETF), optimism has started to fade, evidenced by $42 million worth of outflows from BTC alone during the week, as of Aug. 21.
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Saylor: 'We must be prepared for Bitcoin to permeate all aspects'
In a recent podcast conversation, Michael Saylor of MicroStrategy shared his viewpoint that the involvement of major corporations in procuring and securely holding Bitcoin within their control shouldn't spark apprehension, according to a press release.
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Binance spokesperson: 'Our approach is consistently attuned and adapted to reflect the evolving market landscape and the evolving needs of our user base'
Confirmed through correspondence with a spokesperson from Binance, it has been affirmed that Binance Connect, the compliant division responsible for cryptocurrency buying and selling within the Binance exchange, is scheduled to terminate its operations on Aug. 16, according to a press release.
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JPMorgan, Eaton Vance drawn to bond rally championed by Bitcoin-advocating Bukele
El Salvador President Nayib Bukele initially unsettled many in the financial world with his endorsement of Bitcoin; however, his current oversight of a surging bond rally has proven too enticing to resist. Exceptional returns of around 70% — the highest among emerging market dollar bonds this year — are luring investors who were once cautious or completely avoiding these securities, Bloomberg reported.
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Thielen: 'Market participants will spend a significant amount on marketing to attract retail and institutional capital'
The U.S. Securities and Exchange Commission is expected to approve multiple spot bitcoin exchange-traded funds (ETFs), potentially including Grayscale Bitcoin Trust (GBTC) with the first decision anticipated as soon as next week.
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Allaire: 'We estimate that 70% of USDC adoption is non-US'
Circle CEO Jeremy Allaire recently revealed around 70% of USD Coin (USDC) adoption originates from countries outside the United States.
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Waters: 'Given PayPal’s size and reach, federal oversight and enforcement of its stablecoin operations is essential'
Rep. Maxine Waters, D-Calif., recently expressed concern about PayPal's launch of its own stablecoin, called PYUSD.
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Wilson: 'She's one of the best networkers I've ever worked with'
Katie Haun's venture capital firm, Haun Ventures, raised $1.5 billion for a crypto-focused fund at a time when the crypto industry faced a steep downturn.
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Butterfill: '93% of the outflows were from long-Bitcoin investment products'
Bitcoin's price fell nearly 1% to around $29,500 amid a flat market trend, following a 4% drop below $30,000 last week due to the Federal Reserve's interest rate hike.
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Powell: 'We've covered a lot of ground and the full effects of our tightening are yet to be felt'
The federal government needs to keep fighting inflation, despite a drop of more than 5% compared to last year, Federal Reserve Chair Jerome Powell said.
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Cryptocurrency is property, like naming a river 'though the water contained within its banks is constantly changing,' Singapore judge rules
According to a recent survey by the CFA Institute, investment professionals in emerging markets, especially in China and India, are more supportive of central bank digital currencies (CBDCs) compared to those in developed markets. Meanwhile, the High Court of Singapore ruled that cryptocurrency is property capable of being held in trust, and the judge highlighted that he sees no difference between crypto, fiat money, or other objects of value created by mutual faith in them.
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Waters: 'We don't need to invent new regulatory structures'
Existing regulations should be enforced upon crypto companies instead of inventing new ones, U.S. House Rep. Maxine Waters, D-Calif., said during a contentious House committee session this week.
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Hill, Johnson: 'Legislation would do far more to prevent future collapses of digital asset firms than enforcement actions'
U.S. lawmakers issued a letter to Securities and Exchange Commission Chair Gary Gensler questioning his approach to digital asset regulation.
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Tin Tun Naing: 'We cannot just move funds into a banking system controlled by the military'
Myanmar's first entirely crypto-based banking institution, the Spring Development Bank, which could expand access to financial services and funding for the country's shadow government and its citizens, was set to launch July 22.