TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Breaking: FOMC Chair Powell says FOMC is not missing out joining the party on digital currencies

  • Cybersecurity is a massive concern.
  • Fed's Powell said I don't want to rule it out.
  • SNB's Jordan agrees and says we have an efficient payment mechanism already in Switzerland.
  • When talking about Libra Powell says - Libra would need to be held to the highest standards.
  • "Libra has a burden of proof to carry" says Powell
Breaking: FOMC Chair Powell says FOMC is not missing out joining the party on digital currencies
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

When talking about Libra it seems that FOMC Chariman Jerome Powell was slightly sceptical. He said the standard needs to be very very high and sercurity has to be top notch. 

Interestingly he did not rule out the mass adoption but he did say it could pose some difficulties. 

He was worried about a few things, one of the biggest areas of concern was savings. He said currently if lots of people put thier money into a "digital bank" how would it be lent out to the wider community. So it seems to be a banking issue - How can they control monetary policy if all our money is in digital banks?

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

Ripple’s (XRP) correction on Monday is deepening below $1.30, reflecting growing headwinds in the broader cryptocurrency market. Based on the token’s technical picture, the path of least resistance could stay downward until the $1.30 supply area flips into support.

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin stalls around $80,000 as geopolitical tensions dampen risk appetite

Bitcoin hovers around $80,500 on Monday after three straight weeks of correction. Rising geopolitical tensions in the Middle East continue to push oil prices higher, stoking inflation concerns and dampening risk appetite.

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Crypto Today: Bitcoin, Ethereum and XRP extend losing streak as bearish momentum builds

Cryptocurrency prices are broadly correcting on Monday, led by Bitcoin’s five-day sell-off. Ethereum edges lower and trades around $2,325, as sellers build momentum to retain control over the trend. Meanwhile, Ripple shows signs of consolidating.

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network Forecast: PI token remains under bearish pressure despite network access and security upgrade

Pi Network trades around $0.075 on Monday, holding steady after two consecutive days of roughly 2% losses, resulting in the lowest weekly close ever. Pi Network rolled out desktop version 0.6.4 on Thursday, focused on improving remote access and security for local AI apps.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.