PYMNTS

DECEMBER 18, 2020

The EMTECH Modern Central Bank Sandbox will assist central banks in setting up digital currency that’s interoperable and thus can be converted to other cryptocurrencies, and is compatible with payment devices and terminals worldwide. In addition, there is any number of pathways a digital currency issuance can take.

Digital Currency 142

Digital Currency Central Bank CBDC Fed 142

PYMNTS

AUGUST 21, 2020

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Once that first layer is done the Fed will start to layer on different policy options, he said across two to three years.

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CBDC Fed Federal Reserve ISO 20022 107

Payments Source

NOVEMBER 30, 2017

Randal Quarles, the Federal Reserve official who oversees Wall Street, says central banks are a long way off from embracing cryptocurrencies as a means of paying for things. Not so fast, bitcoiners.

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Bitcoin Federal Reserve Fed Central Bank 62

PYMNTS

JULY 11, 2019

Federal Reserve called for a stop to Libra , Facebook’s proposed cryptocurrency, until the project better demonstrated how it was going to address issues like money laundering and privacy, according to a report by Reuters. Other cryptocurrencies, like Ethereum and Ripple, saw similar slumps. The chairman of the U.S.

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Bitcoin Money Laundering Fed Federal Reserve 69

PYMNTS

DECEMBER 24, 2020

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies.

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Federal Reserve Bitcoin Cryptocurrency Office of the Comptroller of the Currency 103

PYMNTS

OCTOBER 3, 2019

While Philadelphia Federal Reserve Bank President Patrick Harker believes it’s “inevitable” that central banks will eventually issue digital currencies, he warned that the United States shouldn’t be first in line. He admitted that when it comes to the future of the Fed, digital currency will most likely play a part. “I

Digital Currency 55

Digital Currency Fed Federal Reserve Central Bank 55

PYMNTS

JUNE 26, 2019

Federal Reserve plans to hold Facebook ’s cryptocurrency, Libra , to high standards when it comes to consumer protection and regulation. Libra’s a new thing; we are looking at it very carefully,” said Federal Reserve Chairman Jerome Powell on Tuesday (June 25), according to Reuters. financial system.

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Fed Federal Reserve Consumer Protection Digital Currency 51

Payments Source

APRIL 29, 2021

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Fed Federal Reserve Bitcoin Cryptocurrency 118

PYMNTS

AUGUST 25, 2019

Each year since 1978, the Federal Reserve Bank of Kansas City has sponsored a symposium on an important economic issue facing the U.S. As far as technological changes go, the Federal Reserve announced earlier this month that it will officially create a real-time payments service called FedNow. and world economies.

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Federal Reserve FedNow Participant Fed 77

PYMNTS

JANUARY 15, 2021

Federal Reserve Chair Jerome Powell said he isn’t in a rush to adopt a central bank digital currency (CBDC) because of the risks such currencies pose to the status of the dollar, CoinDesk reported. “We dollar is] the reserve currency.”. dollar is] the reserve currency.”.

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CBDC Fed Federal Reserve Central Bank 67

PYMNTS

FEBRUARY 5, 2020

The United States Federal Reserve is examining the possibilities and issues surrounding cryptocurrencies and digital payments, which include whether there would be a benefit to the agency issuing a digital currency , according to a report by Reuters.

Digital Currency 52

Digital Currency Fed Federal Reserve CBDC 52

PYMNTS

JUNE 20, 2019

News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of Libra. government will respond to the introduction of new digital currencies.

Regulations 67

Regulations Money Laundering Federal Reserve Digital Currency 67

PYMNTS

NOVEMBER 2, 2020

In today’s top news in digital-first banking, BlockCard is teaming with peer-to-peer (P2P) bitcoin marketplace Paxful for a new crypto debit card, while the Federal Reserve Board has modified the terms of its Main Street Lending Program (MSLP). Fed Adjusts Main Street Lending Terms to Help Small Businesses.

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Debit Card Fed Federal Reserve Financial Crimes 59

PYMNTS

NOVEMBER 12, 2019

Federal Reserve Chairman Alan Greenspan said Tuesday (Nov. Greenspan was appointed by Ronald Reagan and led the Federal Reserve during the stock market crash of 1987, the tech boom of the 1990s, and the Mexican, Asian and Russian financial crises (1994, 1997, 1998, respectively), CoinTelegraph reported. . Former U.S.

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Digital Currency Central Bank Fed Federal Reserve 40

PYMNTS

JUNE 20, 2019

Federal Reserve Chairman Jerome Powell revealed that Facebook has spoken to the central bank about its upcoming cryptocurrency, called Libra. Powell added that the Fed meets “with a broad range of financial sector firms all the time on financial technology.”.

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Fed Federal Reserve Cryptocurrency Stablecoins 43

PYMNTS

FEBRUARY 6, 2020

In today’s top payments news, Stripe and Lightspeed team up to advance in-store and online payments for retailers and restaurants, the Federal Reserve weighs the costs and benefits of a digital currency and the Reserve Bank of Australia considers stopping banks from automatically routing “tap and go” payments through Visa and Mastercard.

Digital Currency 52

Digital Currency Fed Federal Reserve Cross-Border Payments 52

PYMNTS

NOVEMBER 13, 2017

Ethereum hiccupped, PayPal pushed into India (and into a direct competition with a hometown hero) and The Federal Reserve decided to take on a reset of digital payments. The Fed’s New Digital Payments Outlook. said Randal Quarles, new member of the Fed’s Board of Governors. “I Ethereum Glitch.

Fed 43

Fed PayPal Federal Reserve Multi-Currency 43

PYMNTS

MARCH 4, 2019

Federal Reserve has announced amendments to a policy statement on the scenario design framework for stress testing, which could soon include a potential cryptocurrency market crash as one of the market risks. And Thailand’s financial markets regulator has banned several digital coins from the list of eligible cryptocurrencies.

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Bitcoin Federal Reserve Fed Cryptocurrency 51

PYMNTS

NOVEMBER 8, 2019

Federal Trade Commission (FTC) Commissioner Rohit Chopra wrote a letter to the Federal Reserve saying projects like Libra (Facebook’s proposed cryptocurrency ) illustrate the need for the bank to develop a real-time payments service, according to reports. It was announced earlier this year by Brainard. economy?”

Real Time Payments 40

Real Time Payments FTC Fed FedNow 40

PYMNTS

NOVEMBER 8, 2019

Federal Trade Commission (FTC) Commissioner Rohit Chopra wrote a letter to the Federal Reserve saying projects like Libra (Facebook’s proposed cryptocurrency ) illustrate the need for the bank to develop a real-time payments service, according to reports. It was announced earlier this year by Brainard. economy?”

Real Time Payments 40

Real Time Payments FTC Fed FedNow 40

PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

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Digital Currency Central Bank CBDC Federal Reserve 70

PYMNTS

AUGUST 21, 2020

In today’s top news, $50 billion worth of cryptocurrency was transferred out of China, and Uber Health and NimbleRx have teamed on prescription delivery. Report: $50B in Cryptocurrency Moved Out of China. Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars.

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Federal Reserve Cryptocurrency CBDC Credit Union 63

PYMNTS

OCTOBER 12, 2020

The report and its objectives (with foundational principles for CBDCs) was done in collaboration between the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, Sveriges Riksbank, the Swiss National Bank and the BIS. In an interview with Karen Webster published Monday (Oct.

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Central Bank CBDC FedNow Digital Currency 93

PYMNTS

FEBRUARY 9, 2018

The story has included the digital currency’s price plunging over the last month, as well as a wave of regulators – from Seoul to Singapore to Beijing to Berlin – who have suddenly realized that perhaps cryptocurrency in general needs a long, hard look. The president of the Minneapolis Fed, on the other hand, doesn’t wonder at all.

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Fed Bitcoin Federal Reserve Digital Currency 40

PYMNTS

OCTOBER 8, 2018

Also in Europe, the European financial markets regulator has said that it wants to spend one million euros to promote market stability in the region as pertains to cryptocurrencies and FinTechs. Banking, Eyed by the Fed. Crypto Regulations. The one million euros will be spent through 2019, according to reports.

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Federal Reserve Small Business Regulations Cryptocurrency 69

PYMNTS

NOVEMBER 8, 2020

Federal Reserve Chair Jerome Powell advising more money printing meant that purchasing Bitcoin was a good idea. According to Cointelgraph , Powell had been responding to a news conference after the Fed's Nov. Tyler Winklevoss, the co-founder of crypto exchange Gemini, said recently that the tweet from U.S.

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Bitcoin Fed Federal Reserve Money Laundering 62

PYMNTS

JULY 10, 2019

The Chairman of the Federal Reserve Jerome Powell spoke to a congressional committee on Wednesday (July 10) about the organization’s concerns with Facebook’s proposed cryptocurrency Libra, according to a report by CNBC. Maxine Waters asked about the global oversight of cryptocurrency globally, including Libra.

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Money Laundering Federal Reserve Cryptocurrency Fed 55

PYMNTS

OCTOBER 9, 2020

Plus, the Federal Reserve is working with seven central banks and the Bank for International Settlements (BIS) on a framework for digital currency. Ripple unveiled its Line of Credit beta offering that it says lets its FinTech clients harness the XRP cryptocurrency to send international payments.

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Central Bank Digital Currency Fed Federal Reserve 53

PYMNTS

NOVEMBER 25, 2020

To that end, a Bank for International Settlements ( BIS ) study concludes that “embedded regulation” might offer a solution for stablecoins, defined as cryptocurrencies with values tied to fiat currencies or other assets. In a paper that debuted Tuesday (Nov.

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Stablecoins Regulations Distributed Ledger Technology (DLT) Digital Currency 92

PYMNTS

SEPTEMBER 15, 2020

And here in the States, as detailed in an interview with Karen Webster, Jim Cunha , senior vice president, secure payments and fintech at the Federal Reserve Bank of Boston, told Karen Webster the joint efforts between the Fed and MIT are focused on exploring the infrastructure that would conceivably underly digital dollars.

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CBDC Risk Central Bank Digital Currency 91

PYMNTS

DECEMBER 10, 2019

Secretary of the Treasury Steven Mnuchin, however, recently said that neither he nor Federal Reserve Chairman Jerome Powell feel it is necessary to introduce a Fed digital currency for at least the next five years. .

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Central Bank Digital Currency Federal Reserve Fed 54

PYMNTS

JUNE 26, 2019

And economist Stephen Moore, who recently lost out on a bid to join the board of the Federal Reserve, wants to launch his own mini-Fed through the creation of a cryptocurrency product that aims to be “the world’s decentralized central bank.”

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Fed Bitcoin Blockchain Federal Reserve 40

PYMNTS

JULY 19, 2018

Last year, Lasry said he wished that he had purchased the popular cryptocurrency at the $300 level. Federal Reserve Chairman Jerome Powell told a house committee that the U.S. The price of bitcoin was $7,325.90 as of 9:43 p.m. July 18), according to CoinDesk. By contrast, ransomware comprises only 8 percent of cyberattacks.

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Bitcoin Federal Reserve Ransomware Fed 42

Payments Source

JANUARY 17, 2018

The central bank is beginning to consider the possibility of a “digital dollar,” which will foster more efficient and transparent payments.

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Digital Currency Fed Central Bank Payments 61

PYMNTS

JANUARY 16, 2020

Fed Study: Wholesale Payments Vulnerable In Bank Cyberattack. A new report from the New York Federal Reserve details the dangers of cyberattacks, particularly among banks and wholesale payments. The service aggregates products from all over the internet and can be filtered by department, style, size type.

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AI Federal Reserve Money Laundering Settlement 52

Payments Source

AUGUST 25, 2017

Society has accepted central banks’ monopoly over creating and controlling the flow of money, but history and current technological innovations point to alternative approaches.

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Fed Central Bank Innovation Technology 60

PYMNTS

SEPTEMBER 17, 2020

In an interview with Karen Webster, Jim Cunha, senior vice president, secure payments and FinTech at the Federal Reserve Bank of Boston — discussing joint efforts between the Fed and MIT to explore infrastructure that might underpin digital dollars — said, “Anywhere where you have a cash transaction can be a possible use case.”.

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Central Bank CBDC Digital Currency Federal Reserve 72