Crypto’s Future Could Soon Look a Lot Like the U.S. Dollar

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Crypto’s Future Could Soon Look a Lot Like the U.S. Dollar

By London Times

The dollar is entering the crypto age, and the U.S. government is poised to give its clearest signal yet on how that will happen.

The guidance will come through a trio of pending reports related to public and private efforts to digitize the world’s global reserve currency. First, the Federal Reserve Board will release a paper as soon as this month on the U.S. payments system that’s expected to provide direction on whether the country should issue a so-called central bank digital currency. Soon after, the Fed Bank of Boston will publish long-awaited research and open-source computer code on technology that could underpin a digital dollar. Finally, the President’s Working Group on Financial Markets is set to issue policy recommendations on how to regulate stablecoins, which are in effect digital dollars created by private companies.

When put together, the three reports will provide a road map for the broader financial community on how the Fed and Biden administration see the dollar’s crypto future playing out, the extent to which they embrace adoption of a digital currency and the guardrails they may see as necessary to protect individuals and investors in what’s now a largely unregulated corner of the market. What was once seen as a distant project has taken on an increased sense of urgency as the value of digital assets has exploded to about $2 trillion and other countries, such as China, move forward rapidly with plans for their own sovereign digital currencies.

“This has gone from, ‘It’s an interesting idea,’ a few years ago to, ‘We need to have a pilot project,’” said Josh Lipsky, director of the Atlantic Council’s GeoEconomics Center, of a Fed-issued digital dollar.

The Fed Board’s paper is expected to focus on the U.S. payments system as well as the potential prospects of a Fed-issued digital currency. Over the past several months, U.S. central bankers have been divided over whether creating a digital dollar is wise, with Fed Vice Chair for Supervision Randal Quarles describing its benefits as “unclear” and its risks “significant and concrete.”

Proponents of creating central bank digital currencies, or CBDCs, say they can speed up payments, reduce their cost, and increase access to the financial system for the underbanked. There are also risks, though. A group of world central banks including the Fed, the Bank of England, and the European Central Bank last week issued a report warning that CBDCs could exacerbate bank runs by making it easier for depositors to clear out their cash during a crisis.

The ultimate issuance of a CBDC would take years and the Fed would prefer Congress to pass legislation authorizing its issuance, Fed Chair Jerome Powell has said.

Recent reports on crypto and central bank digital currencies:

  • Bank for International Settlements on CBDCs
  • International Monetary Fund on crypto’s risk to stability

The second paper, from the Boston Fed, could begin to set technological standards that would be important not just for the rollout of a U.S. digital currency, but for others already being developed around the world, said the Atlantic Council’s Lipsky.

Integration with the U.S. payments system is crucial to most countries’ economies, which means any guidance the Fed gives on what to do about privacy tradeoffs and other attributes could end up molding foreign efforts, Lipsky said.

While an official U.S. digital currency — if it happens — will take years to come about, a cadre of private companies, including Tether International Ltd. and Circle Internet Financial Inc., have launched their own versions, with tokens in circulation now worth more than $120 billion. That trend is what will be addressed by the third paper, which will be released by the President’s Working Group on Financial Markets, a collection of the leaders of U.S. agencies including the Fed and the U.S. Treasury Department.

Federal officials have expressed concern that the reserves of some stablecoins are invested in assets such as corporate bonds and related securities that could experience severe stress if investors were to lose confidence and attempt to cash in their stablecoins all at once. Powell and Securities and Exchange Commission Chair Gary Gensler have likened the coins to money market funds, which also seek to maintain a value of one dollar but during times of stress have sometimes failed.

The report is expected to recommend banklike regulation for stablecoin providers and for Congress to pass a bill establishing a new, limited type of charter to allow crypto banks to manage stablecoins as deposits, said a senior official involved with the report.

Such regulation could limit what stablecoin providers can do with their reserves, potentially constraining their profits in the name of greater investor protection. Some U.S. stablecoin companies such as Circle and Paxos Trust Company either plan to seek or already have a certain type of bank charter. In contrast, Tether — the issuer of the largest U.S. dollar stablecoin — has thus far chosen to try to avoid U.S. regulation and closes its platform to most U.S. customers.

Treasury officials briefed Congressional staffers on their work as recently as last week and said they were targeting the release of their report for the coming weeks, said a person familiar with the briefing.

The Fed would have an “enormous competitive advantage” over private tokens if it launches its own digital dollar, Barclays Plc said in a September research report analyzing the case for a U.S. digital currency.

“Together with regulations, a Fed CBDC could crowd out private issue crypto,” the Barclays report said.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Truthbook.social offering hundreds of thousands in giveaways for those joining its new social media platform as many desert Facebook in droves because of censoring

Here is some of the current incentives being offered to new users

Join www.truthbook.social our new social media platform backed by Independent Media. where you can speak the truth, and not be banned. Plus you'll receive $50 USD in www.truthcoin.social,the crypto currency backing the project, when you join, plus a lot more for sharing posts. www.truthbook.social

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

For ANR Smaller Donors please donate below to help fund our critical not for profit work. Together we can defeat mainstream media.

We are a not for profit Independent Media Company which survives off donations, even as little as $5 per month . Please donate now to help fund our work

Truthcoin Offer

$1000 USD turns into Now $6000 Truthcoin
$2,500 USD turns into Now $25,000 Truthcoin
$5000 USD turns into Now $65,000 Truthcoin
$10,000 USD turns into Now $150,000 Truthcoin
$15,000 USD turns into Now $250,000 Truthcoin
$50,000 USD turns into Now $1.15 Million Truthcoin
$100,000 USD turns into Now $2.5 Million Truthcoin

122 Responses

  1. I’m curious to find out what blog platform you have been using? I’m having some small security issues with my latest website and I would like to find something more safe. Do you have any recommendations?

  2. I discovered your blog site on google and check a few of your early posts. Continue to keep up the very good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading more from you later on!…

  3. You could certainly see your expertise in the work you write. The world hopes for even more passionate writers like you who aren’t afraid to mention how they believe. Always go after your heart. “Experience is a good school, but the fees are high.” by Heinrich Heine.

  4. Hey there! I’m at work surfing around your blog from my new apple iphone! Just wanted to say I love reading your blog and look forward to all your posts! Keep up the superb work!

  5. Hey would you mind sharing which blog platform you’re working with? I’m planning to start my own blog soon but I’m having a hard time deciding between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your layout seems different then most blogs and I’m looking for something unique. P.S Sorry for getting off-topic but I had to ask!

  6. You are my inspiration, I have few blogs and very sporadically run out from post :). “‘Tis the most tender part of love, each other to forgive.” by John Sheffield.

  7. Hiya, I am really glad I have found this info. Today bloggers publish just about gossips and net and this is really irritating. A good website with exciting content, this is what I need. Thanks for keeping this web-site, I’ll be visiting it. Do you do newsletters? Can not find it.

  8. Great blog here! Also your site loads up fast! What web host are you using? Can I get your affiliate link to your host? I wish my website loaded up as quickly as yours lol

  9. Oh my goodness! an incredible article dude. Thank you However I’m experiencing difficulty with ur rss . Don’t know why Unable to subscribe to it. Is there anybody getting similar rss problem? Anybody who knows kindly respond. Thnkx

  10. I love your blog.. very nice colors & theme. Did you create this website yourself or did you hire someone to do it for you? Plz answer back as I’m looking to design my own blog and would like to know where u got this from. kudos

  11. you’re really a good webmaster. The site loading speed is incredible. It seems that you’re doing any unique trick. Furthermore, The contents are masterwork. you have done a magnificent job on this topic!

  12. Definitely believe that which you stated. Your favorite justification seemed to be on the net the simplest thing to be aware of. I say to you, I certainly get irked while people consider worries that they just don’t know about. You managed to hit the nail upon the top and also defined out the whole thing without having side-effects , people could take a signal. Will likely be back to get more. Thanks

  13. Hey very nice blog!! Guy .. Excellent .. Amazing .. I will bookmark your web site and take the feeds additionallyKI’m happy to seek out a lot of helpful info here within the post, we want develop extra techniques on this regard, thank you for sharing. . . . . .

  14. Today, while I was at work, my cousin stole my apple ipad and tested to see if it can survive a 30 foot drop, just so she can be a youtube sensation. My iPad is now broken and she has 83 views. I know this is entirely off topic but I had to share it with someone!

  15. I am really loving the theme/design of your blog. Do you ever run into any web browser compatibility issues? A small number of my blog readers have complained about my blog not working correctly in Explorer but looks great in Safari. Do you have any solutions to help fix this problem?

  16. Great beat ! I would like to apprentice even as you amend your website, how could i subscribe for a blog website? The account aided me a applicable deal. I were a little bit acquainted of this your broadcast offered vibrant clear concept

  17. What’s Happening i’m new to this, I stumbled upon this I’ve found It absolutely helpful and it has aided me out loads. I am hoping to give a contribution & aid other users like its aided me. Good job.

  18. There are certainly loads of details like that to take into consideration. That is a nice level to deliver up. I supply the ideas above as basic inspiration however clearly there are questions just like the one you carry up the place crucial factor will probably be working in honest good faith. I don?t know if finest practices have emerged around issues like that, however I’m sure that your job is clearly recognized as a fair game. Both girls and boys feel the affect of just a moment’s pleasure, for the rest of their lives.

  19. Have you ever considered about adding a little bit more than just your articles? I mean, what you say is important and everything. Nevertheless think about if you added some great images or video clips to give your posts more, “pop”! Your content is excellent but with images and video clips, this site could definitely be one of the greatest in its field. Awesome blog!

  20. I got what you mean , regards for posting.Woh I am delighted to find this website through google. “It is a very hard undertaking to seek to please everybody.” by Publilius Syrus.

  21. I like this site very much, Its a very nice spot to read and receive information. “Reason is not measured by size or height, but by principle.” by Epictetus.

  22. There are actually a whole lot of particulars like that to take into consideration. That could be a nice point to deliver up. I offer the ideas above as basic inspiration but clearly there are questions like the one you convey up where the most important thing might be working in honest good faith. I don?t know if greatest practices have emerged round issues like that, but I’m certain that your job is clearly recognized as a good game. Both boys and girls feel the impact of only a second’s pleasure, for the remainder of their lives.

  23. I think that is one of the so much significant info for me. And i’m satisfied studying your article. But want to commentary on some common issues, The website style is great, the articles is really nice : D. Good activity, cheers

  24. Hi my friend! I wish to say that this article is awesome, great written and include approximately all significant infos. I would like to see more posts like this.

  25. Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across. It extremely helps make reading your blog significantly easier.

  26. What’s Taking place i’m new to this, I stumbled upon this I’ve found It absolutely useful and it has helped me out loads. I hope to give a contribution & aid different customers like its helped me. Great job.

  27. Magnificent items from you, man. I have remember your stuff previous to and you’re simply too wonderful. I really like what you’ve received here, certainly like what you’re saying and the way in which by which you say it. You’re making it enjoyable and you continue to care for to stay it smart. I can not wait to learn much more from you. That is really a terrific website.

  28. With havin so much written content do you ever run into any issues of plagorism or copyright infringement? My website has a lot of completely unique content I’ve either authored myself or outsourced but it looks like a lot of it is popping it up all over the internet without my permission. Do you know any methods to help stop content from being stolen? I’d certainly appreciate it.

  29. Youre so cool! I dont suppose Ive read something like this before. So nice to search out any individual with some original thoughts on this subject. realy thank you for beginning this up. this website is something that is wanted on the net, somebody with a little originality. helpful job for bringing something new to the internet!

  30. I used to be very pleased to find this net-site.I wanted to thanks on your time for this wonderful learn!! I positively enjoying each little bit of it and I’ve you bookmarked to take a look at new stuff you blog post.

  31. Thanks for the sensible critique. Me & my neighbor were just preparing to do a little research on this. We got a grab a book from our area library but I think I learned more from this post. I’m very glad to see such excellent info being shared freely out there.

  32. I have been exploring for a little for any high-quality articles or weblog posts in this sort of space . Exploring in Yahoo I finally stumbled upon this website. Studying this information So i?¦m satisfied to express that I’ve an incredibly good uncanny feeling I came upon exactly what I needed. I such a lot surely will make sure to don?¦t fail to remember this website and give it a look regularly.

  33. Wonderful blog! Do you have any tips and hints for aspiring writers? I’m hoping to start my own website soon but I’m a little lost on everything. Would you recommend starting with a free platform like WordPress or go for a paid option? There are so many options out there that I’m completely overwhelmed .. Any ideas? Thanks!

  34. What i do not understood is actually how you’re no longer really much more smartly-favored than you might be right now. You are very intelligent. You recognize therefore considerably in terms of this subject, made me for my part believe it from so many varied angles. Its like men and women don’t seem to be involved except it is one thing to do with Lady gaga! Your own stuffs outstanding. Always maintain it up!

  35. I liked as much as you will obtain carried out proper here. The caricature is tasteful, your authored material stylish. however, you command get bought an impatience over that you would like be delivering the following. unwell indubitably come further before again as precisely the similar just about very steadily within case you shield this hike.

  36. I’ve been browsing on-line greater than 3 hours today, yet I by no means discovered any attention-grabbing article like yours. It is beautiful worth sufficient for me. In my view, if all web owners and bloggers made excellent content material as you did, the internet can be much more useful than ever before.

  37. My developer is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using WordPress on a variety of websites for about a year and am nervous about switching to another platform. I have heard great things about blogengine.net. Is there a way I can transfer all my wordpress content into it? Any kind of help would be greatly appreciated!

  38. Thanks for another fantastic post. Where else could anybody get that type of information in such an ideal way of writing? I’ve a presentation next week, and I am on the look for such information.

  39. Hi there! Quick question that’s completely off topic. Do you know how to make your site mobile friendly? My blog looks weird when viewing from my iphone4. I’m trying to find a template or plugin that might be able to correct this problem. If you have any suggestions, please share. Cheers!

  40. Hey, you used to write great, but the last several posts have been kinda boring?K I miss your tremendous writings. Past few posts are just a little out of track! come on!

Leave a Reply

Your email address will not be published.

Play Video

McIntyre Report
Political Talk Show

We are a not for profit Independent Media Company which survives off donations, even as little as $5 per month . Please donate now to help fund our work

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Current Price of Bitcoin 2.0
0.10 on Azbit

Nurses Speak Out

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY