- During a Congressional hearing regarding central bank digital currency on Tuesday, the prospect of China setting the norm and deploying the digital yuan for cross-border payments as well as China’s capacity to monitor was extensively debated. Congressman Patrick McHenry expressed worry, stating that “if we do not act as Americans, international settlements and remittances may go to a regime that we do not like”. Democrat Congressman Jake Auchincloss had the same stance as McHenry,… Continue reading at Todayq News.
- Judy Lynn Shelton, the former economic advisor to former President Donald Trump, who is known for her advocacy for a return to the gold standard and her criticisms of the Federal Reserve, was recently questioned about her Wall Street Journal article “No, Inflation Isn’t Good for Workers.” In the article, she stated that near-zero interest rates are being heralded as the path to increased wages, although consumer prices are rising at the highest rate since 2008. However, nominal pay increases are an illusion when actual wage gains are wiped out by inflation. The financial benefits of the Fed’s accommodative policy largely benefit Wall Street over Main Street… Continue reading at Bitcoin News
- Dan Schulman said the project was already “code completed” and intended to be ramped in the United States in the next few months. Payment provider company PayPal said its customers do not have to wait for longer to have the greater crypto functionality throughout the system. During PayPal’s Q2 2021 investor update call today, CEO Dan Schulman stated the first version of the business’s super app wallet was “code complete.” The PayPal president claimed the firm prepared for the wallet to be ramped in the United States in the following number of months… Continue reading at Baffic
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