NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Fed Chair Jerome Powell Argues Private Stablecoins Can Co-exist with US CBDC

Anifowoshe Ibrahim
Anifowoshe Ibrahim
3 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

On Jan. 11, Federal Reserve Chair Jerome Powell told Senate legislators that nothing prevents privately issued stablecoins from coexisting with a prospective Fed central bank digital currency (CBDC).

Jerome Powell Confirms Fed-issued Digital Currency Is Underway

Sen. Pat Toomey (R-Pa.) asked Powell during his confirmation hearing for a second term as Fed chairman whether there was place for a future Fed-issued digital currency to coexist with a privately issued stablecoin.

Toomey asked:

“Is there anything about that that should preclude a well-regulated, privately issued stablecoin from coexisting with a central bank digital dollar if Congress authorizes and the Fed pursues a central bank digital dollar?”

Powell said the Fed would publish a study on digital currencies soon at a Senate Banking Committee meeting earlier this week. Senator Pat Toomey, the top Republican on the panel, questioned Jerome Powell during the session. Powell responded, “No, not at all,” when asked if a CBDC would exclude the formation of a “well regulated, privately issued stablecoin.”

While other countries continue to create their own CBDCs, the US monetary authority has yet to make an official announcement about plans to introduce a digital dollar. Despite Powell’s remark, it’s unclear how private tokens would compete if the Fed issued a digital currency.

USDT, the largest stablecoins by market cap, stands at $78 billion. Source: TradingView

Stablecoins have proven to be an important component of the cryptocurrency integration process, since investors frequently utilize their steady rate as a starting point for trading other digital currencies. However, the Federal Reserve and other US watchdogs have previously warned that stablecoins require more stringent regulation and should only be issued by licensed entities such as banks. Financial agencies should have the same jurisdiction to regulate stablecoin issuers as banks, according to the President’s Working Group on Financial Markets.

While the Fed has remained tight-lipped about whether it plans to introduce its own digital currency, similar to China’s yuan, the central bank and other US financial regulators have previously stated that stablecoins require additional supervision and should be issued by banks.

Related article | CBDCs to coexist with cash payments, according to FED Chairman Powell

U.S. President’s Working Group on Financial Markets To Regulate Stablecoins

Stablecoins could be used widely in the future as a means of payment by individuals and businesses, according to a new report from the President’s Working Group on Financial Markets (PWG), but sufficient regulation is required to manage risks.

The Treasury Department said in a statement:

“The potential for the increased use of stablecoins as a means of payments raises a range of concerns, related to the potential for destabilizing runs, disruptions in the payment system, and concentration of economic power,”

The PWG suggested that Congress establish laws to protect against dangers, such as treating stablecoin issuers as depository institutions covered by the Federal Deposit Insurance Corporation (FDIC) and subjecting custodial wallet providers to adequate federal regulation.

Powell was present, as was Treasury Secretary Janet Yellen and SEC Chair Gary Gensler, the latter of whom expressed reservations.

Related article | FED’s Powell Doesn’t Think Crypto Risks Financial Stability

Featured Image by Gettyimages  | Charts by TradingView
Tweet123Share196ShareSend
Anifowoshe Ibrahim
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin kainos proveržis neišvengiamas, o Layer 2 HYPER brangs kartu

Bitcoin kainos proveržis neišvengiamas, o Layer 2 HYPER brangs kartu

Vakar Bitcoin visai neseniai pasiekė naują visų laikų aukštumą – 112 022 USD, signalizuodamas apie milžinišką kainos proveržį, o pirmojo...

Tomas Jankūnas 27 minutes ago
Ethereum

Ethereum прорвался к $3000 – ожидаем к 2026 взлет до $4000?

Ethereum впервые в 2025 году преодолел барьер в $3000 и в настоящее время торгуется на уровне $3020,8, что означает значительный...

lisachaikina 4 hours ago
Crypto expert: Bitcoin koers gaat snel exploderen naar $250.000

Bitcoin Open Interest Climbs Above December 2024 Levels, Here’s What Happened Last Time

The Bitcoin open interest has risen rapidly once again, with the price pushing above previous peaks to new all-time highs....

Scott Matherson 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Missed Bitcoin’s Pump? Kraken Helps You Ride the Altcoin Surge.

Missed Bitcoin’s Pump? Kraken’s Trading Tools Help You Surf the Altcoin Surge

Aaron Walker 32 minutes ago
Bitcoin nove maximum ATH 2025

Bitcoin prekročil hranicu 118 000 $. Bude Bitcoin Hyper katalyzátorom ďalšieho rastu?

Nina Šefčíková 57 minutes ago
Dogecoin price news

Dogecoin Chart Is ‘One Of The Best’ In Crypto—$1 Remains Likely: Analyst

Jake Simmons 1 hour ago

Premium Sponsors

Press Releases

  • 3 altcoin, amelyet érdemes figyelni 2025. július második...

    4 minutes ago
  • Dự Đoán Giá Pudgy Penguins – Meme Coin Tiềm Năng...

    1 hour ago
  • Bitcoin Có Thể Đạt 150.000 USD – Các Đồng Coin...

    1 hour ago
  • Altcoins

    Giá Crypto Bùng Nổ Khi Bitcoin Chạm Mốc 116.000 USD...

    2 hours ago
  • 3 altcoiny, které sledovat ve druhém týdnu července 2025

    3 altcoiny, které sledovat ve druhém týdnu července...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.