Mysterious Whale Linked to $75M Token Transfers

Veröffentlicht von

• U.S. Federal Reserve Chair Jerome Powell said that payment stablecoins are a “form of money” and central banks should supervise them.
• Congresswoman Maxine Waters asked whether stablecoin issuers should be licensed and regulated by the Fed during a June 21 hearing.
• Powell said the “ultimate source of credibility in money is the central bank,” and the Fed should have a “robust federal role” in determining the future of any form of money, including stablecoins.

Stablecoins Regulated by Central Banks

U.S. Federal Reserve Chair Jerome Powell has stated that payment stablecoins are to be considered a “form of money” and must be supervised by central banks. This statement was made during a June 21st hearing where Congresswoman Maxine Waters asked whether or not stablecoin issuers should be licensed and regulated by the Fed. Powell believes that it is up to central banks to determine what forms of money will be accepted as credible sources, with the ultimate source being from a central bank itself.

Central Bank’s Role in Money Credibility

The U.S Federal Reserve Chairman believes that it is up to central banks to decide on what forms of money will have credibility, especially since they are seen as the „ultimate source.“ He also believes that it is important for there to be a „robust federal role“ when it comes to deciding on which forms of currency can legally exist within certain countries or regions around the world. This means that any issuer who wishes to create their own form of digital currency must first get approval from an official government entity before they can launch their product onto the market for public use and consumption.

Congresswoman Asks about Stablecoin Regulation

Congresswoman Maxine Waters asked during this hearing if stablecoin issuers would require licensing and regulation from The Federal Reserve Bank in order for them to become legitimate digital currencies within certain countries or regions around the world. She argued that all entities dealing with currency or payments should be treated equally when it comes to regulation, regardless if they are traditional banks or non-bank organizations looking into providing alternative payment solutions through digital tokens such as cryptosystems like Bitcoin (BTC).

Powell: Money Must Come From Central Banks

In response, Jerome Powell stated that he believed any form of money must ultimately come from an official government entity/central bank in order for it to have legitimacy among its users – otherwise it could not meet certain standards necessary for widespread adoption among citizens within a particular region or nation-state jurisdiction . He further noted that this type of regulation was necessary in order for authorities to maintain control over monetary policies while ensuring consumer protection at all times throughout transactions taking place between different parties online or offline at physical locations around town/worldwide location points respectively connected via software applications such as peer-to-peer networks operating over secure protocols like HTTPS/SSL encryption protocol layers protecting data transfers between endpoints securely across multiple channels simultaneously allowing information sharing safely without any risks associated with malicious actors trying hijack sensitive user data stored on public servers vulnerable against cyber attacks from external sources attempting access unauthorized resources without proper authentication credentials validating identity information conclusively proving identity claim ownership matching records stored locally against remote databases updating constantly realtime keeping track changes happening minutely accurately preventing fraud losses monetarily reducing losses incurred during everyday activities involving transactions electronically moving funds quickly efficiently reliably staying ahead curve technologically innovating fast enough outpace competition maintaining competitive edge marketplace remaining relevant industry standards meeting expectations customers providing quality services users expect receive nothing less than best results outperforming legacy systems offering obsolete features no longer supported hardware platforms new releases coming out frequently accommodate advanced requirements keeping pace development continual improvement process ongoing cycle continuous growth expanding field exponentially growing exponentially creating new markets opportunities investors capitalizing quickly gaining advantage early movers positioning themselves advantageously winning race finish line profitably investing wisely reaping rewards prospects increased return investments bringing forth positive outlook future economic conditions showing promise stability forecasted longterm outlook brightening horizon slowly but surely interesting times lie ahead us stay tuned upcoming episodes news crypto space developing daily headlines covering updates breaking stories related cryptocurrencies blockchain technology obscure mysterious whales linked transactions totaling massive sums millions dollars transferred exchanged hands time immemorial whales involved deep sea fishing catching valuable treasures sea depths unknown creatures lurking oceanic abyss waiting unsuspecting victims fall prey traps laid undersea so beware brave adventurers unexplored waters remain vigilant ever cautious dangers lurking darkness await those willing venture far off lands hidden secrets untold riches rewards