Day: April 26, 2023

Reserve Currency Status Should No Longer Be Taken for Granted – Economics Bitcoin News

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European Central Bank (ECB) President Christine Lagarde has warned that the U.S. dollar’s reserve currency status “should no longer be taken for granted.” Acknowledging de-dollarization efforts by various countries, she stressed: “New trade patterns may have ramifications for payments and international currency reserves.” ECB’s Christine Lagarde on De-Dollarization and Alternative Currencies The president of the European Central Bank (ECB), Christine Lagarde, shared her thoughts on the de-dollarization trend happening across the globe in an interview with the Council on Foreign Relations last week. Noting that the U.S. dollar has become…

UK financial watchdog to crypto industry: ‘Let’s work together’

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The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), wants to work together with crypto companies to develop a regulatory framework for the industry. On April 25, FCA Executive Director Sarah Pritchard spoke at London’s City Week conference highlighting the need for cooperation on crypto regulations. “We want industry’s input to make sure we get the future regulatory regime for crypto assets right,” she said. “Let’s work together, to shape our rules and regulations to benefit markets, consumers and firms as crypto goes from niche to mainstream.” She referred to…

Bitcoin BTC Price Breaks Its Losing Streak in Late Tuesday Rally

“With First Republic Bank looking like it could go under, I suspect the market is anticipating yet more liquidity injections to prop up what certainly seems to be an American banking sector that is still very much in the throes of crisis,” Jake Boyle, director of Caleb & Brown, a retail crypto brokerage, wrote in an email to CryptoX. “Bitcoin, as a result, is front-running these expectations. Cracks in the financial system are growing, even if relatively subtly at the moment, and it’s going to be incredibly difficult for the…

Apple’s outside payments ban upheld as unlawful in likely win for NFTs and crypto

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A California court ruled Apple violated state competition laws by barring app developers from using alternative in-app payment methods apart from its own that included a 30% commission. The decision may clear the path for cryptocurrency and nonfungible token (NFT) projects to add more functionality to their iOS apps. The April 24 ruling was made by the United States Court of Appeals for the Ninth Circuit in the case of Apple vs Epic Games — the creator of the video game Fortnite. The court upheld the decision of a lower…

Hillary Clinton Warns of ‘Worldwide Financial Meltdown’ and Dollar Losing Reserve Currency Status if US Defaults on Its Debt – Economics Bitcoin News

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Former U.S. Secretary of State Hillary Clinton has warned that the U.S. defaulting on its debt obligations could lead to a global financial meltdown. “If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder,” she stressed. Hillary Clinton on U.S. Debt Default and Dollar Losing World’s Reserve Currency Status Hillary Clinton, a former first lady and the U.S. Secretary of State from 2009 to 2013, warned in an opinion piece, published by the New York Times Monday, about the disastrous…

Third time’s the charm? ARK and 21Shares again file with SEC for Bitcoin ETF

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Cathie Wood’s ARK Invest and European crypto investment firm 21Shares are seemingly unperturbed by the cryptocurrency regulatory environment in the United States, again requesting approval for a Bitcoin (BTC)-based financial product. On April 25, the two companies requested that the U.S. Securities and Exchange Commission (SEC) approve the creation of a spot Bitcoin exchange-traded fund (ETF) despite being rejected twice before. The two companies first applied to create their spot Bitcoin ETF on June 28, 2021, which was later rejected by the SEC in April 2022. The regulator said the…

Economist Peter Schiff Warns US Will Default on Its Debt — Raising Debt Ceiling Will Make Problem Worse – Economics Bitcoin News

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Economist Peter Schiff has warned that the U.S. will default on its debt obligations. He further stressed: “All the bad stuff that they’re saying is going to happen if we don’t raise the debt ceiling is guaranteed to happen because we do raise the debt ceiling.” Peter Schiff on U.S. Debt Default Economist and gold bug Peter Schiff warned Monday on the Peter Schiff Show podcast that the United States will default on its debt obligations and that raising the debt ceiling will have devastating consequences. Commenting on politicians claiming…