Cryptocurrency Analysis and News Portal
China’s rapid embrace of blockchain, more precisely its Yuan backed crypto is huge news in circles such as congress, finance and the Whitehouse itself. First off we start with China’s new law aimed at developing blockchains increasing role as a replacement for Fiat currency active 1st Jan 2020. According to the Chinese
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Binance.US — the United States-focused wing of major cryptocurrency exchange Binance — announced that its customer's dollar deposits are eligible for Federal Deposit Insurance Corporation (FDIC) insurance coverage.FDIC insures deposits up to $250,000In a blog post on Oct. 18, Binance.US announced that the exchange holds its U.S. dollar deposits
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The ex-head of the United States’ commodities regulator thinks the government must digitize the dollar and take power away from central banks.Giancarlo wants independently maintained dollarIn an opinion piece for the Wall Street Journal on Oct. 15, J. Christopher Giancarlo, former chair of the Commodity Futures Trading Commission or
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Earlier this month CoinDesk Reported that the Federal Reserve believes the dollar will one day soon become a digital asset much like XRP. Then David Schwartz also spoke of creating a dollar stablecoin but instead of being backed by the FED, backed by XRP & we got excited. The key distinguishing property of
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Ex-United States Federal Reserve official Simon Potter stated that the plan to end the U.S. dollar’s dominance by replacing it with a digital currency makes no sense.Central banks unlikely to coordinate around virtual currencyLast month, Governor of the Bank of England Mark Carney suggested ending the U.S. dollar’s dominance
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The American-Senegalese R&B singer, songwriter, and producer, Akon seems to be bullish on Bitcoin(BTC)trade. The Grammy award winner endorsed Bitcoin and prioritized it over fiat currencies such as the U.S. dollar during a radio interview.Favoring the concept of decentralization and cryptocurrency, Akon further said that fiat currency is the biggest
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Facebook is in new rounds of talks focused on discussing potential backings for its digital currency Libra.It was recently reported that Facebook has informed U.S. senators that it might not consider the Chinese Yuan as a potential contender for a backing of the cryptocurrency Libra. Facebook has submitted details of
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Grammy award-winning music artist Akon has rebuffed Bitcoin (BTC) naysayers who claim that the asset lacks intrinsic value.In a radio interview published on Sept. 10, Akon lambasted the perception that fiat currencies are any less vulnerable to this same critique, arguing that:“Nothing backs the dollar. The U.S. doesn’t have
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The U.S dollar is arguably the most popular currency today. Controlled by the most powerful country in the world, the U.S. dollar currently holds a substantial influence over trade across the globe. But according to the Bank of England governor, cryptocurrency might take its place.The governor of the Bank of
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Mark Carney, the Governor of the Bank of England, has suggested a transformation of the global financial system by replacing the United States dollar with a digital currency similar Facebook’s Libra.Delivering his speech at the U.S. Federal Reserve’s annual symposium in Jackson Hole, Wyoming, Carney said that a Libra-like
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