Fed's Powell reasserts support for stablecoin legislation

How Stablecoins are Taking Over: Unveiling the Limitations of US Banking - Jerald David

Stablecoins’ Dominance in the US Banking Sector: An Analysis by Jerald David The rise of stablecoins in the US banking sector has brought about a significant shift in the financial landscape. These digital assets, pegged to traditional currencies like the US dollar, have gained popularity due to their stability and ease of use in transactions. However, despite their advantages, stablecoins also come with limitations that need to be addressed. Je…

USDC vs US Dollar: How Stablecoins Extend Fiat Money

Comparing the US dollar to USDC — the most widely adopted dollar-backed stablecoin — is one of the clearest ways to understand the promises and tradeoffs of Open Money. When we put these two side by side, we see not just a contrast in technologies, but in underlying systems: centralized vs decentralized, analog vs programmable, closed vs open.Let’s start with the US dollar.The US dollar is the dominant reserve currency in the world. It underpins…

Fed Chair Powell Says Crypto Is Going Mainstream

Crypto is reaching mainstream adoption, according to Fed Chair Jerome Powell

Fed Chair Powell: Crypto Going Mainstream as U.S. Works on Stablecoin Regulation

Federal Reserve Chair Jerome Powell has stated that cryptocurrency is becoming increasingly mainstream, driven by evolving U.S. regulations. In recent remarks, Powell highlighted that both chambers of Congress are actively working to establish a legal framework for stablecoinsdigital assets pegged to fiat currencies like the U.S. dollar. Depending on whats in it, thats a good idea. We need that. There isnt one now, Powell said, underscoring the …

Fed's Powell reasserts support for stablecoin legislation

As digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea,” said US Federal Reserve Chair Jerome Powell.In an April 16 panel at the Economic Club of Chicago, Powell commented on the evolution of the cryptocurrency industry, which has delivered a consumer use case that “could have wide appeal” following a difficult “wave of failures and frauds,” he said.Powell delivers remarks at the Economic Club …