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Per an interpretive letter from the U.S. Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins.The new guidance reads, "We conclude that a national bank may hold such stablecoin 'reserves' as a service to bank customers."Alongside the announcement,
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Every time the Federal Reserve meets, it’s important to remember the only real monetary policy tradition at the 107-year-old institution is that a bunch of people will get together and talk about markets and the economy and decide what to do next. There’s never really any right or wrong answer for how to go about
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Federal Reserve officials said Wednesday they would hold U.S. interest rates at close to zero and work to push inflation above 2% "for some time." Source
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Three men accused of passing themselves off as pastors to get churchgoers and other investors to put money into what prosecutors say was a $28 million Ponzi scheme have been indicted by a federal jury in Maryland. According to the indictment unsealed on Friday, Denni Jali, a South African citizen who
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Federal agencies have turned to blockchain for its transparency, efficiency, security and flexibility.According to FedTech magazine, several federal agencies like the U.S. Food and Drug Administration, or FDA, and the Department of Treasury began using blockchain.Officials in the US Food and Drug Administration needed an effective way to help them track
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A US Federal Court said Friday that bitcoin is a form of money covered under the Washington D.C., Money Transmitters Act (MTA).The court made this conclusion as it denied a motion to dismiss criminal charges against Larry Dean Harmon, the operator of an underground bitcoin trading platform.In December 2019,
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Bitcoin is a form of “money” covered under the Washington, D.C., Money Transmitters Act, a federal court said Friday. Update (July 24, 17:13 UTC): This article has been updated with a comment from Coin Center.Update (July 24, 17:29 UTC): This article has been updated with background information on U.S. v. Harmon. DisclosureThe leader in
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Bitcoin’s fundamental case continues to strengthen as developments regarding the next stimulus bill continue. Industry executives believe that
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The U.S. Federal Reserve’s balance sheet is contracting, but despite popular opinion, that’s not necessarily bad news for bitcoin. The central bank’s balance sheet declined by $88 billion to $6.97 trillion (-1.5%) in the week ending July 8, having hit a record high of $7.16 trillion in early June, according to
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U.N. and Federal Reserve experts independently researched central bank digital currencies and found they could effectively compete with the commercial banking system. Meanwhile, New York State and France have entered into a regulatory agreement and Europol is concerned about the bitcoin privacy wallet Wasabi. Here’s the story: You’re reading Blockchain Bites, the daily
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