The US Federal Reserve is forming a team to explore the potential of creating a cryptocurrency, due to worries about the lack of regulation of existing stablecoins. The team will investigate the risks and benefits of a central bank digital currency, and how it could be used in the US. The move comes as other countries, such as China, are already developing their own digital currencies.
#Federal #Reserve #Create #Cryptocurrency #Team #Concerns #Unregulated #Stablecoins
Oh thank God the government crypto team is here… We’re saved
Oh fuck off. Investigate Do Kwon and get people’s money back
How about you get a hold of your banks first? Right now they are a bigger threat to the economy.
Government crypto team: Five German Shepherds sitting in front of a computer with a tie on
If only they hired the real experts – us
Pretty sensible tbh. Plus the recognition of crypto at the Fed is on the bullish side.
> *Barr emphasized that regulation needs to be a “deliberative process” to ensure that a balance is reached between over-regulation that “will stifle innovation” and under-regulation that “will allow for substantial harm to households and the financial system.”*
The move by the Federal Reserve to create a specialized crypto team is a positive development for the cryptocurrency industry
Sure as long as the “team” isn’t comprised of crypto noobs, they should know more about crypto than the average joe, and definitely not boomers.
tldr; The US Federal Reserve is creating a specialized team of experts to monitor developments in the cryptocurrency sector, with a particular focus on stablecoins. The move comes amid concerns that unregulated stablecoins could put households, businesses, and the broader economy at risk. The new team will help the Fed “learn from new developments and make sure we’re up to date on innovation in this sector.”
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today’s trending news [here](https://coinfeeds.substack.com).*
I thought the priority was failing banks at the moment.
Hope that at least get cool jerseys ..
And I don’t care how many points they score a game I’m not rooting for them 😂
Next they’ll have their own coin, which will defeat one of the main purposes of crypto…NOT being controlled by the government.
They should instead create a fiat team to fix the inflation
We’re past the point of being ignored, it looks like.
How the heck did they not have this before.
Also, why not talking to Gensler and get some bloody regulations instead of popping off charges for violations of regulations that don’t exist?
The fact that a growing number of people have more hope and faith in unregulated, offshore, decentralized, imaginary tokens, than they do in the centralized banking systems of the world should be a wake up call to deal with their own houses, and not a call to put their boot on the throats of the common people. The optics and reality are not good.
CBDCs are coming and this is the first step!