David Weild IV, who is known as the father of the JOBS Act, believes that the issuance of the digital dollar is imminent and that the U.S. government should hurry up with it. In addition to garnishing bipartisan support for one of key legislations of the Obama era, Wield served as vice-chairman of NASDAQ, and currently manages his own decentralized investment bank that helps crypto and blockchain companies raise capital. China is unpredictable Weild does not believe that the digital yuan will generate a lot of demand outside of China because of the restrictive nature of its political system. Meanwhile, …

The Marshall Islands’ project says its creation of a digital sovereign currency, named SOV, aims to be a “game-changer”. It could also pioneer how governments respond to crises such as the COVID-19 pandemic. In an exclusive interview with Cointelegraph, Joel Telpner, chairman of Sullivan’s Fintech and Blockchain Practice and Marshall Islands crypto advisor, highlighted that the project still faces “a lot” of challenges ahead, but looks forward to making the work “rewarding.” The current phase of SOV’s project Telpner said that the Islands’ government is currently in an 18 month phase. They’ll be issuing what’s called “preSOV,” which will later …

The global monetary system has been centered around the United States dollar since at least the end of World War II when the 1944 Bretton Woods Agreement formalized the greenback’s ascent to unchallenged dominance. Control over the world’s reserve currency came hand in hand with a boost to the nation’s already enormous geopolitical influence, as well as the ability to run huge deficits at low cost. Today, a growing chorus of experts believe that the dollar’s hegemony might be in a decline. America’s diminishing share of world trade, the expansion of China’s monetary power and the anticipated digitization of national …

On May 28, the Digital Dollar Project released its white paper, a 30-page document detailing the potential applications of a CBDC. The white paper continues the nascent think tank’s work to push forward development of a digital dollar. The project and the tenets of the new white paper The paper details certain core tenets of what it considers a digital dollar and what it will push forward. The Digital Dollar Project was founded by former leaders of the Commodity Futures Trading Commission and professional services company Accenture. One of those founders is Daniel Gorfine, the head of the CFTC’s fintech …

“There is no country with more to lose from the disruptive potential of digital currency than the United States.” So goes the stark warning from analysts at the U.S.’ largest bank, JPMorgan Chase, in a new report covered by Bloomberg News on May 22. The report’s authors — among them, JPMorgan’s head of of U.S. interest-rate derivatives strategy Josh Younger and chief U.S. economist Michael Feroli — wrote: “This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services conveys immense advantages.” The more fragile links …

Policymakers around the world have committed unprecedented amounts of fresh money in a bid to stave off an impending recession, or worse: a total depression. In the United States, the Senate approved a $2 trillion stimulus package in late March, and the House of Representatives has now accepted a proposal from House Democrats for another $3 trillion meant to ease the needs of Americans who are facing an unemployment rate of nearly 15%. As a response to COVID-19, the Federal Reserve has undertaken a wave of quantitative easing unparalleled in its history. As the monetary body responsible for managing the …

Following Bitcoin’s (BTC) recent much-hyped halving event, many in the industry had anticipated a drop in value, especially after BTC slid to as low as $8,100 on May 10. However, following this aforementioned uncertainty, the flagship crypto asset proceeded to gain a cool 6% and rise to around the $9,500 mark in less than 48 hours and could now be heading toward the $10,000 mark. On Monday, crypto miners all over the world saw Bitcoin’s native reward quotient slashed in half — from 12.5 BTC to 6.25 BTC — thereby inducing an air of uncertainty around the currency’s price. This …

As the decentralized finance, or DeFi, industry continues to grow, the need for liquidity in cryptocurrencies is steadily increasing. DeFi startup Equilibrium has today expanded the supply of its decentralized EOS stablecoin, EOSDT, as a result of integrating Bitcoin (BTC)-powered liquidity. Equilibrium, a major multi-chain DeFi framework, has raised the EOSDT circulation cap from $70 million to $170 million, the firm announced on May 1. EOSDT integration with pBTC drives the liquidity flow This push became possible through EOSDT’s integration with cross-chain DeFi liquidity network pTokens, which enabled Bitcoin collateralization through pTokens’s BTC-pegged token, pBTC. Bitcoin is the biggest cryptocurrency …

Jim Bianco, CEO and president of economics and finance analysis company Bianco Research, said he sees a cryptocurrency as the next reserve asset. "I've argued that, in theory, the next reserve currency will be a crypto,” Bianco told Anthony Pompliano on an April 17 episode of Pompliano’s podcast. Biano noted that no other global fiat option would work as a U.S. dollar replacement. The U.S. dollar is still the reserve currency In light of recent economic difficulties related to the COVID-19 pandemic, Bianco noted people have fled into the U.S. dollar with their wealth as the world still largely views …

Cointelegraph is launching Cointelegraph Talks, a series of online events featuring top blockchain and cryptocurrency experts and executives. The first Cointelegraph Talks event kicks off at 3:00 PM EST on Tuesday, April 21, featuring major industry figures including Binance.US CEO Catherine Coley and Robert Beadles, president at blockchain company Monarch. The meetup’s live stream will be available on Cointelegraph’s YouTube channel. The event will consist of two panels, at which industry experts will discuss the impact of the coronavirus outbreak on the development of digital payments, as well as the digitization of the world’s reserve currency — the United States …

According to a study released by the G-20’s Financial Stability Board on April 14, stablecoins pose a pertinent risk to the financial stability of the global economy and therefore need to be regulated in a manner that is not only meticulous but also future ready. Additionally, as per data released by the FSB, members of the G-20 have been advised to make use of their existing financial rules — especially those related to money laundering and terrorism funding — in regard to any stablecoin offerings that may be available within their respective borders. The G-20 seems to be particularly hostile …

The coronavirus pandemic is the biggest global crisis since the events that sparked the creation of Bitcoin (BTC) in 2008, and is one that will also have long-lasting effects on the economy. World governments are taking unprecedented measures to cope with the economic fallout of the virus, namely through the third coronavirus relief bill, which was approved by the United States Congress earlier this month and constitutes the biggest stimulus package in the country’s history at $2.2 trillion. During the negotiations for the third emergency bill, one of the drafts submitted by House Democrats — the first version of the …