The Fed looks to supervise banks' involvement in crypto and fintech. Innovation is the focus but their approach will determine if successful.
According to Bloomberg, Fed Vice Chairman Randal Quarles is concerned about tech companies providing financial services; while no moves have...
While speaking at an event by the office of Financial Research Federal Reserve Vice Chairman for Supervision Randal Quarles talk about the issues digital currencies could pose to the markets; the current level of use doesn’t pose a risk but as the scale of usage increases so does the potential potential problem; Quarles said, “if the central asset in a payment system cannot be predictably redeemed for the U.S. dollar at a stable exchange rate in times of adversity, the resulting price risk and potential liquidity and credit risk pose a large challenge for the system.”; he also talked about the the benefits of blockchain technology and if the central bank would issue their own digital currency. Source.
Thursday afternoon, the Boston Federal Reserve and MIT Digital Currency Initiative (DCI) released Phase 1 of Project Hamilton.
The Federal Reserve is making changes to the asset cap on Wells Fargo in order to get more money into...
Philadelphia Fed president, Patrick Harker, gave a speech titled, "Fintech: Revolution or Evolution?" at the University of Pennsylvania; the speech was part of a lecture series at the School of Engineering and Applied Science; Patrick Harker discussed fintech in the context of technology, business and government noting innovation in cryptocurrency, blockchain, banking and regulation. Source
The macro and crypto economic thesis for 2021, building out the linkages between “Risk-On” assets, flows into and valuation of Bitcoin and Ethereum, and the interplay between value locked, the growth of decentralized application revenue, and the volumes around digital objects. We bring it all together.
A week ago I wrote about the Cleveland Fed report on “p2p lending”. I use that term in quotes because...
Like many interested in the crypto space, Crapo has asked for months about the stablecoin report.
This week we had the Fed finalizing guidelines for access to its payment systems, a look at the Visa-Mastercard duopoly, projections on what an Apple checking account might look like, Affirm CEO wishing for a recession, fintech lenders with higher borrowing costs and more.