Cryptocurrency war — Governments and big banks are afraid

  • 📰 mybroadband
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 67%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

Governments and central banks have an innate fear of cryptocurrencies becoming too big.

That is the reason the US Federal Reserve and the US Treasury turned down Facebook’s attempt to launch its own digital currency, Libra. With no comprehensive regulatory framework in place, the regulators did not like the idea of giving a tech giant the go-ahead to print its own money.

What stands out is the rapid innovation of new instruments. From the start volatility has been an issue. But there are now stablecoins, which are linked to a fiat currency or commodity. There are also ways to seek out the best yields in the crypto world and change from coin to coin. The end of money has come about because of erosion of trust in the existing banking and financial system, they argue. Cryptocurrencies are viewed in the book as flawed in large part because of security flaws, lack of regulation, and because they facilitate the hiding of illicit activity.

To try and counter the rise of private currencies, central banks could soon issue their own digital currencies. But their intention is to control rather than permit greater freedom.

Source: Digital Coin News (digitalcoinnews.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Crypto is the future.

Damn them and their Fiat...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

We are not scared of Sundowns, says Royal AM's Mama-Joy'Royal AM is a big team, we are ambitious and we want to win the Nedbank Cup', says the former Pirates fanatic.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Europe is sleepwalking into another world warEurope is sleepwalking into another world war - Russia is at war with Ukraine because it is at war with Nato, which is commanded by the United States The US is leading the EU into war as always. This moronic attitude of the Europeans must be revolted by its people. The citizens must stand up and make it clear that they are not dustbins of the US. The US must stay out of the EU Why does Mail & Guardian print this twisted logic?
Source: mailandguardian - 🏆 2. / 92 Read more »

Kenyan farmers go green to deal with climate changeNatural alternatives to fertiliser also helping farmers weather the shortage caused by the war in Ukraine
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE firms as ECB keeps rates on holdPositive earnings results from US banks, including Goldman Sachs, Morgan Stanley and Citigroup add further support
Source: BDliveSA - 🏆 12. / 63 Read more »

Kenyan farmers go green to deal with climate changeNatural alternatives to fertiliser also helping farmers weather the shortage caused by the war in Ukraine
Source: BDliveSA - 🏆 12. / 63 Read more »

Cape Town City’s Eric Tinkler Wary Of Three Royal AM DangermenCape Town City coach Eric Tinkler is wary of three dangermen from Royal AM. SLSiya Read more:
Source: Soccer_Laduma - 🏆 22. / 63 Read more »