{"id":51684,"date":"2021-09-30T02:32:19","date_gmt":"2021-09-29T22:32:19","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=51684"},"modified":"2021-09-30T02:32:22","modified_gmt":"2021-09-29T22:32:22","slug":"powell-asked-to-explain-central-banks-work-on-crypto","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/powell-asked-to-explain-central-banks-work-on-crypto\/09\/30\/market-updates\/","title":{"rendered":"Powell asked to explain central bank\u2019s work on crypto"},"content":{"rendered":"\n<p>While the Office of the Comptroller of the Currency (OCC) insists that lack of due regulation in the crytospace could easily lead to a financial crisis, seven members of the Congress sent a letter to Jerome Powell, chairman of the Federal Reserve, asking about the U.S. central bank&#8217;s efforts on cryptocurrency regulation.<br>The letter includes four questions, addressing the Fed&#8217;s approach to cryptocurrency custody at federal banks in addition to its role in establishing international standards for a central bank digital currency. The third question asks about the Fed&#8217;s coordination with other financial institutions and regulating bodies while the fourth question was about setting a date for a discussion paper. <br>At a hearing before the Senate Banking Committee last July, Powell said: &#8220;You wouldn&#8217;t need stablecoins, you wouldn&#8217;t need cryptocurrencies if you had a digital U.S. currency&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the Office of the Comptroller of the Currency (OCC) insists that lack of due regulation in the crytospace could easily lead to a financial crisis, seven members of the Congress sent a letter to Jerome Powell, chairman of the Federal Reserve, asking about the U.S. central bank&#8217;s efforts on cryptocurrency regulation.The letter includes four &hellip;<\/p>\n","protected":false},"author":13,"featured_media":51689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6903,6885,7164,7500,7605],"class_list":["post-51684","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-cryptocurrencies","tag-fed","tag-powell","tag-regulation","tag-standards"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/51684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=51684"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/51684\/revisions"}],"predecessor-version":[{"id":51690,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/51684\/revisions\/51690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/51689"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=51684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=51684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=51684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}