Fed Chairman Jerome Powell told the House of Representatives today that stablecoins should face stricter regulations similar to money market funds or bank deposits. Powell was asked specifically about Tether, currently the most valuable stablecoin, by Rep. Anthony Gonzalez (R-OH). Tether claimed each coin was backed by a dollar, but that has been proven false; rather it is … [Read more...] about Fed Chair says stablecoins need stricter regulation, speaks on CBDC
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China’s state-run media slams Bitcoin trading, calls for stricter supervision
Following the Bitcoin mining debacle that originated from China earlier this week, Xinhua News, the official state-run press agency of the People’s Republic of China, published a new article today, highlighting the risks of cryptocurrency trading.The authors of the publication started off by explaining how leveraged trading works—a method where users effectively borrow money … [Read more...] about China’s state-run media slams Bitcoin trading, calls for stricter supervision