Fed’s Brainard Speech Offsets Bitcoin Crash Fears against Rising Yields
Bitcoin held onto its key technical support area despite a concerning sell-off on Tuesday, raising hopes that it might survive the bearish assault that brought its prices down by 21.32 percent last week.
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Federal Reserve Vice Chair Lael Brainard has stressed the importance of establishing sound regulation for the crypto financial system “now before the crypto ecosystem becomes so large or interconnected that it might pose risks to the stability of the broader financial system.” Fed Vice Chair Brainard on Crypto Regulation Lael Brainard, the vice chair of the Board of the Federal Reserve Governors, talked about crypto regulation and decentralized finance (defi) Friday at a Bank of England conference in London. She began by referencing recent volatility in the crypto market,....
Federal Reserve board member Lael Brainard is scheduled to issue new remarks on blockchain technology later this week. On 7th October, Brainard will speak at the Institute of International Finance Annual Membership meeting, where is expected to address blockchain in the context of the US central bank's larger, ongoing study on electronic payments. The news coincides with broader efforts by global central banks to better understand the technology, with institutions including the De Nederlandsche Bank, the Monetary Authority of Singapore and the Bank of England. Notably, the speech won't be....
Federal Reserve Governor, Lael Brainard, praised the potential of blockchain technology while tip-toeing around Bitcoin in a recent speech. But did Brainard really ignore the elephant in the room or was her message, in fact, a cryptic rallying cry for the banking industry to unite against this decentralized, peer-to-peer, and open-access monetary system?....
As central banks are increasingly snubbing Bitcoin, they’re cautiously studying the “disruptive potential” of its underlying technology or what the ECB now refers to as DLT. European Central Bank Executive Board Member, Yves Mersch, acknowledged this much in a recent speech, advising the Eurosystem members to reflect on the “wider implications” of its....
Federal Reserve governor Lael Brainard delivered a speech on blockchain today, remarking that the technology could have a major impact on the financial system. Brainard's speech, delivered to at the Institute of International Finance in Washington, D.C., represents what may be the US central bank’s strongest words on blockchain to date. She detailed developments from a Federal Reserve-guided working group that is focused on financial innovation, an effort that, in part, is looking at the question of using the tech in next-generation payment and settlement systems. At the same time,....