Relief: Federal Reserve Chairman Does Not Plan to Ban Cryptocurrency

Cryptocurrency fans and investors just breathed a major sigh of relief. Jerome Powell– Chairman of the Federal Reserve– has confirmed that he “has no intention” to ban cryptocurrency in the US. Powell’s Position on Crypto The chairman confirmed and clarified his position today while testifying in front of congress. House Representative Ted Budd asked Powell to explain one of his previous statements on the matter.  [caption id="" align="aligncenter" width="967"] Jerome Powell. Source: Reuters[/caption] In July, Powell joined a slew of…

Philippines Central Bank Tightens Regulations On Crypto-Assets

Bangko Sentral ng Pilipinas (BSP), the Philippines' apex bank, has revised regulations guiding crypto-assets.  The revised laws have been updated to include regulations that guard against the use of crypto-assets to perpetrate money laundering. Major Changes To Crypto Regulations In The Philippines This development was revealed on Monday by the BSP, which stated that its Monetary Board had approved new guidelines on crypto assets. The regulations would guide crypto assets providers, including businesses that provide financial services via blockchain or…

6 Main Factors Responsible for Cryptocurrency Volatility

The volatile and unstable nature of cryptocurrency makes it a great investment opportunity. When correctly harnessed, cryptocurrency investments can be very profitable. There is a wide variety of cryptocurrencies in the market, and some cryptocurrencies are more volatile than others. The more volatile it is, the higher the investment risk. The risks and uncertainty brought about by this volatility constitute a significant setback as it makes some people hesitant to embrace cryptocurrencies. This constant shift in price and value also…

US Treasury Discusses Crypto Regulation Issues with Industry Leaders

On the 3rd of March 2020, the US treasury met with industry leaders and finance watchdog experts to debate about supervisory and regulatory challenges facing digital assets, including cryptocurrencies. Steven T. Mnuchin said that the US welcomes responsible innovation that may improve the financial system's efficiency. He added an urgent need to protect the US national security and maintain the integrity of the financial system. Additionally, the treasury focuses on preventing the misuse of digital currencies by money launderers, terrorist…