Fed watchdog Michael Barr calls stablecoins risk for economy

2023-9-8 20:00

Federal Reserve’s Michael Barr highlights the risks of unregulated stablecoins, emphasizing the need for robust federal oversight in the evolving digital currency landscape. Michael Barr, the Federal Reserve’s leading authority on banking oversight, has voiced robust concerns regarding stablecoins operating…

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stablecoins federal barr michael oversight robust reserve

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Источник: btcmanager.com

stablecoins federal → Результатов: 89

FBI seized $1.7m of crypto in three months

FBI seized $1.7 million worth of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Monero (XMR), and stablecoins USDT and DAI in three months. A document published by the US Federal Bureau of Investigation (FBI) revealed about $1.7 million worth of cryptocurrencies…

2023-8-16 17:02
fbi million worth months cryptocurrencies seized three

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Federal Reserve will require state banks to get written ‘non-objection’ from central bank before engaging with stablecoins

The U. S. Federal Reserve has issued new guidelines for state member banks regarding activities involving stablecoins or “dollar tokens. ” According to these guidelines, banks must secure a written non-objection from the regulator before engaging in any such activities.

2023-8-10 22:30	Stablecoins
banks stablecoins engaging activities guidelines federal non-objection

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US Stablecoin Bill Advances Despite Fear Of Elon Musk’s Twitter X Coin

In a momentous move, the US House Financial Services Committee has taken a significant step forward in establishing a federal regulatory framework for stablecoins despite the fears of Elon Musk creating his own.

2023-7-28 08:45
elon musk despite step forward establishing regulatory

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Fed Chair’s Bullish Stablecoin Stance Clashes With SEC’s Cautious View – New Era For Tether?

U. S. Federal Reserve Chair Jerome Powell’s bullish stance on stablecoins is notably at odds with the cautionary perspective of Securities and Exchange Commission (SEC) Chair Gary Gensler. The juxtaposition of these positions has sparked further discourse in the ongoing debate over the classification and regulation of cryptocurrencies.

2023-6-23 02:00	Tether
chair sec stance bullish juxtaposition these gensler

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Fed’s Powell on Crypto: Stablecoins are a Form of Money, Would be a Mistake to Leave Fed With Weak Role

In a recent testimony before the House Committee on Financial Services, Federal Reserve Chair Jerome Powell emphasized the importance of a robust federal role in the oversight and regulation of stablecoins.

2023-6-22 16:00	Latest News
role fed federal stablecoins powell reserve financial

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Federal reserve chair Powell emphasizes need for strong oversight of US stablecoins

Federal Reserve Chairman Jerome Powell reiterated the need of robust central-bank oversight in the ongoing development of stablecoin regulations by the House Financial Services Committee.

2023-6-22 00:59	United States
need federal oversight powell reserve committee ongoing

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Powell says stablecoins are a ‘form of money’ that central banks should supervise

U. S. Federal Reserve Chair Jerome Powell said the regulator views payment stablecoins as a “form of money” and believes central banks should supervise them. Powell made the statement in response to Congresswoman Maxine Waters asking whether stablecoin issuers should be licensed and regulated by the Fed during a June 21 hearing.

2023-6-21 18:24	Stablecoins
should powell supervise central banks stablecoins form

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Fed Chair Powell Says Central Bank Needs ‘Robust’ Role Overseeing U.S. Stablecoins

Federal Reserve Chairman Jerome Powell argued for the need for strong central-bank oversight in stablecoin regulations being crafted by lawmakers in the House Financial Services Committee.

2023-6-22 18:22
powell regulations being stablecoin chair central-bank oversight

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What’s in the House Financial Services Committee’s Stablecoin Bill?

The House Financial Services Committee has finally unveiled its stablecoin legislation, proposing a framework for stablecoin issuers such as Circle and Tether to define how their offerings can be regulated by state and federal entities, while calling for a temporary ban on algorithmic stablecoins.

2023-4-19 01:29	SEC
stablecoin committee services house financial state regulated

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US draft bill on stablecoins places issuers like Tether under the Federal Reserve oversight

A new draft bill that provides a stablecoin framework in the United States will see private issuers such as Circle placed under the Federal Reserve (Fed) oversight

2023-4-16 12:38
federal reserve oversight issuers under draft bill

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Tether and US Federal Reserve Fired Up Money Printers in March

In March, Tether minted an impressive 9. 7 billion USDT, while the US Federal Reserve printed $400 billion. This comparison highlights the growing influence of stablecoins in the crypto market and the increasing role they play in the global financial ecosystem.

2023-4-4 20:55	Bitcoin News
billion march reserve federal tether market crypto

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U.S. Fed to create new crypto team amid Stablecoins' concerns

The U. S. Federal Reserve is planning to form a specialized team of experts to keep up with developments in the cryptocurrency industry. Barr stated that regulation must be a deliberative procesThe post U.

2023-3-10 15:17	News
team cryptocurrency industry barr developments stated regulation

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Anti-CBDC bill in the US, no algo stablecoins for Canada: Law Decoded, Feb. 20–27

United States Representative Tom Emmer introduced legislation in the U.S. House of Representatives that could prevent the Federal Reserve from issuing a central bank digital currency.

2023-2-28 22:30	Coinbase
representatives could legislation introduced prevent house reserve

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Central banks could leverage stablecoins as a shortcut, according to a New York Fed advisor

Central Banks could just opt to use stablecoins instead of developing their own central bank digital currencies (CBDCs), according to one Federal Reserve research advisor. New York Federal Reserve research advisor, Antoine Martin, said that stablecoins offer central banks a potential…

2022-11-24 00:30	Stablecoins
central advisor stablecoins banks york reserve research

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Canada includes consultation on crypto, stablecoins, CBDCs in Economic Statement

The Canadian federal government yesterday announced the launch of a consultation paper on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs). The information was revealed in thThe post Canada includes consultation on crypto, stablecoins, CBDCs in Economic Statement appeared first on AMBCrypto.

2022-11-4 15:00	News
cbdcs stablecoins consultation canada statement economic crypto

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Stablecoins Could ‘Fundamentally Alter’ Banking System, Says US FDIC Chief

Stablecoins could have such a profound effect on the established banking system that U.S. regulators need to require that the digital tokens fit in without disrupting it, said Martin Gruenberg, the acting chairman of the Federal Deposit Insurance Corp.

2022-10-21 17:00	policy
stablecoins banking system could disrupting fit without

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Even 'Safe' Stablecoins Might Pose Financial Stability Risk, New York Fed Says

The rise of Circle’s USDC stablecoin – as opposed to the controversial Tether (USDT) – is a threat to the broader financial system, as it could increase the chance of run risks from smaller issuers, researchers at the Federal Reserve Bank of New York wrote in a new paper published Monday.

2022-10-4 20:32	policy
new financial york smaller risks could increase

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Central Banks Will Always Be Source of Trust in Money, Says Fed Chair

Federal Reserve (Fed) Chairman Jerome Powell has spoken at the Conference on Opportunities and Challenges of the tokenization of finance, hosted at the Louvre by the Banque de France. In his comments, the Fed chairman addressed the current “DeFi winter,” the utility of stablecoins, and reiterated that a dollar-based central bank digital currency was still … Continued The post Central Banks Will Always Be Source of Trust in Money, Says Fed Chair appeared first on BeInCrypto.

2022-9-28 20:30
fed central chair chairman says money banks

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Stablecoin Reserves Must Be “Publicly Transparent”: Jerome Powell

Jerome Powell, Christine Lagarde, Ravi Menon, and Agustn Carstens shared their thoughts on several topics, including DeFi regulation, stablecoins, and central bank digital currencies. Fed Chair Talks Stablecoins The Federal...

2022-9-27 17:19	Stablecoins
jerome powell stablecoins central regulation topics defi

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US Stablecoin Bill Negotiations Wrestled Over Digital Dollar Approval: Source

Democrats pushed for a provision directing the U.S. Federal Reserve to move forward on a digital dollar, but the negotiations concluded with a new directive for another Fed study in this year’s ongoing legislative effort to regulate stablecoins, according to a person familiar with the talks.

2022-9-21 17:57	policy
dollar digital negotiations new directive study fed

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Will Stablecoins Be Tethered to the Fed? Lawmakers Have Circled That Option

Companies issuing stablecoins would have to deal with the Federal Reserve as the chief oversight agency in the current version of a bill being developed in the U. S. House of Representatives, say people familiar with the talks.

2022-7-28 15:30	policy
stablecoins bill version current agency being representatives

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U.S. Fed says recent strain highlights ‘structural fragilities’ in stablecoin sector

The Federal Reserve views stablecoins as an area of concern due to the recent strain on the digital assets, noting that this has highlighted the “structural fragilities in that rapidly growing sector.

2022-6-22 22:00	Stablecoins
fragilities structural sector recent strain assets noting

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Stablecoins highlight 'structural fragilities' of crypto — Federal Reserve

“Stablecoins that are not backed by safe and sufficiently liquid assets and are not subject to appropriate regulatory standards create risks to investors," said the Fed report.

2022-6-18 00:15	United States
stablecoins standards create regulatory appropriate highlight risks

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Fed Sounds Alarm on “Recent Strains” in Stablecoin Market

Stablecoins pose a risk to the financial system due to their lack of transparency and often lack of safe reserves, according to a new Federal Reserve report. Federal Reserve Highlights...

2022-6-18 21:40	StableCoin
reserve federal lack transparency often reserves report

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Federal Reserve Board: Recent Market Turmoil Shows ‘Structural Fragilities’ of Crypto

The Board of Governors of the Federal Reserve have noted the risks of stablecoins by referring to the recent dramatic market crash in the monetary policy report submitted to the Senate and the House.

2022-6-18 20:23	policy
market federal recent reserve board dramatic monetary

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Federal Reserve Vice Chair Testifies in Support of CBDC, Says It Can ‘Coexist’ With Stablecoins

Federal Reserve Vice Chair Lael Brainard testified before a House committee on Thursday about CBDC coexisting alongside stablecoins. The post Federal Reserve Vice Chair Testifies in Support of CBDC, Says It Can ‘Coexist’ With Stablecoins appeared first on BeInCrypto.

2022-5-27 18:20
federal stablecoins cbdc chair reserve vice coexist

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Law Decoded: Is depegging a real threat to financial stability?

Janet Yellen calls on lawmakers to develop a consistent federal framework for stablecoins, Hester Peirce urges to allow room for failure and more.

2022-5-18 11:43	SEC
stablecoins hester framework federal peirce urges failure

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UST Meltdown Hasn't Spurred US Financial Stability Council Meeting: Sources

As one of crypto world’s major stablecoins – TerraUSD (UST) – slid toward disaster this week, it hasn’t triggered any meetings of U. S. government officials. Despite the recent federal stance that stablecoins could pose a rising threat to the U.

2022-5-11 20:44	policy
ust stablecoins hasn officials despite government any

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US Treasury Secretary reaffirms need for stablecoin regulation following UST crash

Janet Yellen said it would be “highly appropriate” to aim for “a consistent federal framework” on stablecoins by the end of 2022 in the U.S., given the growth of the market.

2022-5-11 19:34	Stablecoins
framework federal aim consistent stablecoins growth market

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New Fed Report Repeats Warning About Stablecoin Run Risks as UST Loses Peg

The U.S. government again named stablecoins as a potential threat to the stability of the financial system, with both the Federal Reserve and a senior Treasury official saying Monday that the tokens are vulnerable to runs.

2022-5-10 00:51	policy
reserve federal both financial system senior treasury

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Federal Reserve chair concerned over the adoption of digital assets

The chair of the US Federal Reserve, Jerome Powell, has expressed concern over the cryptocurrency sector. The official stated that private cryptocurrencies and stablecoins presented a risk to the stability of the financial sector.

2022-3-24 15:40	Cryptocurrency
reserve federal sector chair cryptocurrencies private stability

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The Federal Reserve Minutes Indicate That The Hammer Could Fall Harshly On Crypto Markets

Fed minutes are indicative of a plan to aggressively raise rates. Fed officials during the meeting also expressed concern over cryptocurrencies and stablecoins. Analysts are unsure of how this development may impact the cryptocurrency markets.

2022-2-20 17:13	Cryptocurrency News
markets minutes fed concern expressed cryptocurrencies stablecoins

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Does a Fed digital dollar leave any room for crypto stablecoins?

Could stablecoins be undone by a Federal Reserve that takes consumer deposits? Would retail banks be hobbled?

2022-1-21 19:41	доллар
stablecoins reserve federal undone could takes banks

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Fed Chair Jerome Powell Argues Private Stablecoins Can Co-exist with US CBDC

On Jan. 11, Federal Reserve Chair Jerome Powell told Senate legislators that nothing prevents privately issued stablecoins from coexisting with a prospective Fed central bank digital currency (CBDC).

2022-1-14 17:46	Stablecoins
cbdc fed stablecoins chair powell jerome digital

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Jerome Powell softens regulatory stance against stablecoins, says can coexist with the Fed’s CBDC

In a Senate Banking Commitee press conference this past Wednesday, Federal Reserve Chair Jerome Powell clarified in response to a question on whether a potential Fed CBDC would preclude the existence of privately-issued stablecoins, to which Powell responded “No, not at all.

2022-1-13 20:00	StableCoin
powell cbdc jerome fed stablecoins whether potential

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US Financial Stability Oversight Council identifies stablecoins and cryptos as threats to financial system

"The Council recommends that state and federal regulators review available regulations and tools that could be applied to digital assets," says the FSOC.

2021-12-18 23:59	Regulation
council financial tools review regulations available applied

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Fed: stablecoins can be useful and effective part of financial system

Cryptocurrencies do not pose serious risks to financial stability, and stablecoins, if properly regulated, could become a useful part of the financial system, said US Federal Reserve Chairman Jerome Powell.

2021-12-18 17:12	News
financial system part useful stablecoins said regulated

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Biden Administration Releases Report on Stable Coin Regulation

Report with regulatory oversight implications for stablecoins and DeFi has been released by the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.

2021-11-2 21:20
report financial group working markets president insurance

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US Banking Regulator FDIC Is Looking into Stablecoins’ Eligibility for its Deposit Insurance

The Federal Deposit Insurance Corp. (FDIC) is studying whether certain stablecoins might be eligible for its coverage. The discussions are only in the preliminary stage yet, reported CoinDesk citing five people familiar with the knowledge.

2021-10-7 17:11	Stablecoins
insurance stablecoins deposit fdic stage yet preliminary

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Fed Chairman Powell: No Crypto Ban, but Regulation Necessary

U.S. Federal Reserve Chairman Jerome Powell said he has no intention to ban cryptocurrencies. He also stated that stablecoins should be regulated. The post Fed Chairman Powell: No Crypto Ban, but Regulation Necessary appeared first on BeInCrypto.

2021-10-1 09:19	Stablecoins
ban powell chairman necessary regulation fed crypto

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The U.S. Will Not Mirror China’s Ban On Cryptocurrencies, Fed Chair Powell Tells Congress

The United States will not follow the example of China in imposing an outright ban on cryptocurrencies but is looking at regulating stablecoins, the Fed Chairman said on Thursday. The Fed Has “No Intention” Of Banning Cryptocurrencies The United States Federal Reserve does not intend to ban all cryptocurrency transactions, the chairman Jerome Powell emphasized […]

2021-10-1 01:29	USA
ban fed cryptocurrencies united chairman powell states

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Stablecoins Come Under Scrutiny As Regulators Rev Up Crypto Clampdown Efforts

US regulators are paying close attention to fiat-backed digital assets, popularly known as stablecoins, per reports from Bloomberg. Tether Under Scrutiny The crypto market has been largely left to fend for itself in the last twelve years but it seems federal regulators are now ready to step in.

2021-9-18 19:45	Stablecoins
regulators stablecoins crypto scrutiny under itself fend

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New bill proposes US Treasury to have full authority over fiat stablecoins

The bill also calls for the Federal Reserve to be vested with the clear authority to issue a digital dollar.

2021-7-30 13:29	United States
authority bill federal calls reserve dollar issue

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US Treasury Secretary Mandates Federal Regulators on Stablecoin Laws

Janet Yellen, the Secretary of the US Treasury has said that it was imperative for regulators to establish a regulatory policy for stablecoins. Stablecoin Regulation a Priority for US Authorities Yellen’s statement was revealed in a readout of the meeting held on Monday (July 19, 2021).

2021-7-20 19:00	УС
yellen secretary treasury stablecoin regulators revealed priority

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US Feds want to tame ‘wildcat’ stablecoins like Tether and USDC

A research paper titled “Taming Wildcat Stablecoins,” published in the Social Science Research Network (SSRN) by a professor of finance at Yale, Gary Gorton, and the US Federal Reserve attorney Jeffery Zhang, urges supervision of stablecoins.

2021-7-20 19:00	USDT
stablecoins research wildcat yale professor finance gary

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Federal Reserve attorney and a Yale professor call for stablecoin supervision

Gary B. Gorton, a professor at Yale University, and Jeffery Zhang, a member of the Board of Governors of the Federal System, have proposed the supervision of stablecoins. They made this recommendation through a research paper, which they co-authored.

2021-7-20 16:41	Tether
professor federal supervision yale stablecoins proposed co-authored

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“Tax Private Stablecoins Out Of Existence,” Proposes Latest Fed Paper Ahead Of Treasury Secretary Meeting

Written by a Professor of Finance from Yale School of Management and an attorney at the Federal Reserve System, wants regulators to take a lesson from history, the Free Banking Era because the central bank must have a “monopoly on money issuance.

2021-7-20 16:07	Stablecoins
take lesson history wants federal reserve system

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Fed and Yale researchers lay out 2 regulatory frameworks for stablecoins

Yale Professor Gary B. Gorton and Jeffery Zhang of the Board of Governors of the Federal Reserve System have co-authored a 49-page paper called, “Taming Wildcat Stablecoins.”

2021-7-19 01:35	United States
stablecoins yale system reserve governors federal co-authored

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U.S. Treasury Secretary Janet Yellen Convenes Meeting to Discuss Stablecoins

Stablecoins to be the center of discussion in the upcoming meeting among federal financial regulators in the U. S. U. S. Financial Regulators to Discuss Stablecoins U. S. Treasury Secretary Janet Yellen announced yesterday that a meeting would be convened on July 19 to discuss stablecoins and their potential benefits and risks.

2021-7-17 20:00	USDT
meeting stablecoins discuss regulators treasury financial janet

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2023-9-8 20:00

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