A new working paper by the European Central Bank (ECB) argues that a Central Bank Digital Currency (CBDC) would more efficiently facilitate monetary liquidity. There has been significant discussion and some disagreement over whether it should be left to the private sector to issue Euro stablecoins with appropriate regulations, or whether Central Banks should get...
Category: TRENDS IN CRYPTOS
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BLOCKCHAIN BATTLES
SEC REBUKED FOR “REGULATION BY ENFORCEMENT” BY CFTC COMMISSIONER The Securities Exchange Commision (SEC) using an insider trading scandal involving a [now former] Coinbase employee in order to allege that nine crypto assets should be classed as securities, drew pointed criticism from the Commodity Futures Trading Commission (CFTC) last week. CFTC commissioner Caroline D. Pham...
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CENSORSHIP RESISTANT TECHNOLOGIES BLOCKCHAIN OFFERS RIGHT NOW
Big tech and government censorship will no doubt exert a vice grip on information during the upcoming U.S. midterm elections. The good news is that there are a growing number of decentralized blockchain apps and services that can help citizens retain their free speech rights and fundamental freedoms. Looking for permanent file storage for a...
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BLOCKCHAIN BATTLES
WEB3 AND THE “CREATOR ECONOMY” Cryptos came for financials first. And despite the current drastic downturn, the technology will continue to transform finance in fundamental ways. But the “crypto mindset” is empowering a generation of creatives as well as the cypher punks who originally coded and participated in the underground ecosystems that bubbled up into...
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ALGORAND MAKES CASE FOR “PRIVATE – PUBLIC” CBDC MODEL
For the second year in a row, Algorand, a permissionless “3rd generation” blockchain, is issuing a report detailing how central banks can utilize its technology to create CBDCs (Central Bank Digital Currencies). The new 2022 report argues that Central Banks need CBDCs in order to participate in the opportunities provided by the digital economy, to...
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ECB REPORT URGES PASSAGE OF “GREEN” CRYPTO REGS
The same EU that just did a u-turn to re-classify nuclear energy as a “green energy” source in the face of an energy crisis, wants to pick green winners and losers in cryptos. The Markets in Crypto-Assets (MiCA) bill, a comprehensive cryptocurrency regulation, which was hammered out in late June, is being pushed by a...
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CONFIDENCE IN CENTRALIZED CRYPTO PLATFORMS HIT IN THE WAKE OF FAILURES
Celsius, a former leading “CeFi” (centralized lending and borrowing) crypto exchange made news this past week for its bankruptcy filing, drawing a spotlight as the latest crypto casualty. The sharp downturn in the bleeding edge technology sector has exposed a number of projects and ventures that have dealt in negligent or outright corrupt financial practices....
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EL SALVADOR’S BITCOIN BET GOES BUST
As we reported in “El Salvador Becomes World ‘s First National Bitcoin Experiment” (22 Feb 2022), the tiny Central American nation became the world’s first country to honor Bitcoin as legal tender as part of president Nayib Bukele’s plan to leverage the digital coin to enable his country’s economy to flourish. In 2021, Bukele’s administration...
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BRAINARD URGES TIGHTER RULES FOR CRYPTO
Tighter regulation of digital currencies is needed to protect small investors and to help tame the industry’s volatility as it continues to grow, Lael Brainard, vice-chair of the U.S. Federal Reserve, said in a London speech last week at a conference hosted by the Bank of England. Cryptocurrencies dangle “the false allure of seemingly easy...
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BLOCKCHAIN BATTLES
POLS SUDDENLY DISCOVER “ETHICS” WHEN IT COMES TO CRYPTOS Remember Nancy Pelosi overseeing huge government decisions regarding government contracting to tech companies, while her husband was trading on those stocks? Remember those SEC Presidents trading on inside information who conveniently retired after they were found out? Or how about the hundreds of Federal judges who...