News Topic: Digital currencies
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No bubble in housing market, Fed’s Powell says
U.S. Bank to offer custody service for digital assets
No. 1 rule for central bank digital currencies: Do no harm
How Wyoming's new senator spreads gospel of financial innovation
Fans call crypto bank Avanti the future. Critics say it’s too risky.
Powell: Need for digital dollar is an issue for Congress, public
‘We don’t need to rush’ on Fed digital dollar, Powell says
Democratic leaders are encouraging the Federal Reserve to develop its own digital currency to expand financial services access. Chair Jerome Powell indicated the central bank plans to take a methodical approach. ]] ... Read full article
Powell says central bank digital currency must coexist with cash
Potential central bank digital currencies would need to be integrated into existing payment systems alongside cash and other forms of money, Federal Reserve Chair Jerome Powell said. ]] ... Read full article
Fed digital currency gains steam with Democrats in power
As the Federal Reserve continues to explore issuing a digital U.S. dollar, the Biden administration and key congressional leaders are endorsing the idea as a way to expand banking access for underserved consumers. ... Read full article
Yellen signals interest in backing digital-dollar research
Treasury Secretary Janet Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households. ... Read full article
Northern Trust, Fidelity join small club managing crypto assets
They're among a handful of companies willing to hold clients' digital assets for safekeeping. Many of their peers balk at the reputational and financial risks. ... Read full article
Digital dollar, inclusion and the stimulus bill
The events of 2020 have only helped to intensify a range of potentially disruptive developments in the payment industry. As the central bank's digital currencies advance, how will the government and the private sector work together to bring projects ... Read full article
Avanti got a bank charter. Here’s what's next on its agenda.
Founder Caitlin Long says the blockchain bank plans to issue a virtual currency and help hedge funds and family offices trade digital assets now that it has a special-purpose banking charter in Wyoming. ... Read full article
BNP Paribas out front on digital asset storage
National banks just got the OCC's go-ahead this summer to hold and transfer digital assets like bitcoin for customers, but the Paris-based bank has already vetted the technology needed to do the job. ... Read full article
Powell says Fed's digital currency should complement payments system
Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar. ... Read full article
Central banks want digital currencies that don’t nudge out cash
Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions. ... Read full article
Banks are permitted to hold crypto assets. Will they?
In July, the OCC issued a letter clarifying that federally chartered banks can store cryptocurrency assets for their clients. A recent global survey finds that many are wary of the risks. ... Read full article
Banks can hold stablecoin-related assets for customers, OCC says
The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings. ... Read full article
Crypto exchange Kraken receives Wyoming bank charter
The company, which left New York in 2015 to avoid its regulations on virtual currencies, has found a more welcoming state. ... Read full article