Happy Friday, Blockfolians
Here’s a heckuva virtual panel for you monetary policy geeks: JPow (Fed Daddy), Christine Lagarde (ECB) and Andrew Bailey (Bank of England) got together to discuss many things…
…Including central bank digital currencies. Lagarde spoke most extensively, saying that she had a “hunch” that we’d see a digital euro. She also reiterated that any digital euro would complement rather than replace cash.
Jerome Powell said much of the same that we’ve heard over and over again - which is that the Federal Reserve is looking into digital currencies but far from committed.
Andrew Bailey meanwhile brought up a number of concerns around private stablecoins, suggesting that CBDCs could be an answer.
The interesting thing about this is just how high profile these questions have become. This is no longer a discussion for the crypto kids but a fundamental part of the macroeconomic question.
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Highly Relevant Reading
Deutsche Bank says CBDCs will replace cash
Binance announces Ethereum mining pool
Chainalysis is now managing seized crypto
BitPay rolls out crypto payroll service
A great discussion we’re likely to see much more of
Bryan Hubbard @BryanKHubbardHearing coming up before the Senate Banking Committee, "Oversight of Financial Regulators." Written statements by @USOCC's @BrianBrooksOCC and others are available now at https://t.co/JmiVVIlmgu
A Really Big Number We Should Be Paying Attention To
That’s how much Mike Novogratz’ Galaxy made in Q3