{"id":401680,"date":"2022-01-31T17:16:23","date_gmt":"2022-01-31T14:16:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/"},"modified":"2022-01-31T17:16:23","modified_gmt":"2022-01-31T14:16:23","slug":"powers-on-the-fed-endorses-cryptocurrency-kind-of","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/","title":{"rendered":"#Powers On\u2026 The Fed endorses cryptocurrency \u2014 Kind of"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6aedfd9ca2d45\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6aedfd9ca2d45\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Powers_On%E2%80%A6_The_Fed_endorses_cryptocurrency_Kind_of\" >Powers On\u2026 The Fed endorses cryptocurrency  Kind of<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Eth2_rebrands_to_consensus_layer_Elon_Musk_fails_to_boost_DOGE_YouTube_gaming_head_switches_to_Polygon_Studios_Hodlers_Digest_Jan_23-28\" >Eth2 rebrands to consensus layer, Elon Musk fails to boost DOGE, YouTube gaming head switches to Polygon Studios: Hodlers Digest, Jan. 23-28<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Heres_how_to_keep_your_crypto_safe\" >Here\u2019s how to keep your crypto safe<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Animoca_Brands_doubles_valuation_to_5B_OpenSea_tops_35B_in_January_volume_Microsoft_eyes_Metaverse_gaming_Hodlers_Digest_Jan_16-22\" >Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in January volume, Microsoft eyes Metaverse gaming: Hodlers Digest, Jan. 16-22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Boston_nurse_fired_for_nudes_on_OnlyFans_launches_crypto_porn_app\" >Boston nurse fired for nudes on OnlyFans launches crypto porn app<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#The_best_of_blockchain_every_Tuesday\" >The best of blockchain, every Tuesday<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Powers_On%E2%80%A6_The_Fed_endorses_cryptocurrency_Kind_of-2\" >Powers On\u2026 The Fed endorses cryptocurrency  Kind of<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Eth2_rebrands_to_consensus_layer_Elon_Musk_fails_to_boost_DOGE_YouTube_gaming_head_switches_to_Polygon_Studios_Hodlers_Digest_Jan_23-28-2\" >Eth2 rebrands to consensus layer, Elon Musk fails to boost DOGE, YouTube gaming head switches to Polygon Studios: Hodlers Digest, Jan. 23-28<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Heres_how_to_keep_your_crypto_safe-2\" >Here\u2019s how to keep your crypto safe<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Animoca_Brands_doubles_valuation_to_5B_OpenSea_tops_35B_in_January_volume_Microsoft_eyes_Metaverse_gaming_Hodlers_Digest_Jan_16-22-2\" >Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in January volume, Microsoft eyes Metaverse gaming: Hodlers Digest, Jan. 16-22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/buradabiliyorum.com\/en\/powers-on-the-fed-endorses-cryptocurrency-kind-of\/#Boston_nurse_fired_for_nudes_on_OnlyFans_launches_crypto_porn_app-2\" >Boston nurse fired for nudes on OnlyFans launches crypto porn app<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Powers On\u2026 The Fed endorses cryptocurrency \u2014 Kind of<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                &lt;p&gt;&lt;strong&gt;This month, the Board of Governors of the United States Federal Reserve System issued its widely anticipated report&lt;\/strong&gt;&lt;span style=\"font-weight: 400\"&gt;&lt;strong&gt; on the nations possible use and adoption of digital currencies for its financial system.&lt;\/strong&gt; The document is titled Money and Payments: The U.S. Dollar in the Age of Digital Transformation, and true to its name, the paper is transformative.&lt;\/span&gt;&lt;\/p&gt;&lt;hr \/&gt;&lt;p&gt;&lt;b&gt;&lt;i&gt;Powers On\u2026&lt;\/i&gt;&lt;\/b&gt;&lt;i&gt;&lt;span style=\"font-weight: 400\"&gt; is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on Blockchain, Crypto and Regulatory Considerations.&lt;\/span&gt;&lt;\/i&gt;&lt;span style=\"font-weight: 400\"&gt;&lt;\/span&gt;&lt;\/p&gt;&lt;hr \/&gt;&lt;p&gt;&lt;span style=\"font-weight: 400\"&gt;For those who are regular readers of this column, in December, I &lt;\/span&gt;&lt;span style=\"font-weight: 400\"&gt;identified the top five events in blockchain&lt;\/span&gt;&lt;span style=\"font-weight: 400\"&gt; in 2021. One of those was the comments from Fed Chairman Jerome Powell on his openness to digital assets and a possible co-existence of Fed legacy money and financial systems and cryptocurrencies. He stated in public hearings that there was no current need to ban crypto and that he saw value in stablecoins, if properly regulated.&lt;\/span&gt;\n<\/code><\/pre>\n<p><span style=\"font-weight: 400\">I also opined in that column that the Feds endorsement and issuance of a central bank digital currency seemed to be forthcoming. Well, that is precisely what the report says, though there is typical hedging with disclaimers and Washington doublespeak. Given the significance of the U.S. creating and adopting its own CBDC, the paper is worth highlighting.<\/span><\/p>\n<h4><\/h4>\n<p>\u00a0<\/p>\n<div class=\"code-block code-block-1\" style=\"margin: 8px 0;clear: both\"><span class=\"NMM\"><\/span><\/div>\n<p>\u00a0<\/p>\n<h4><\/h4>\n<p><span style=\"color: #1d1f20;font-size: 1.25em;font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif\">The Federal Reserve System and a CBDC<\/span><\/p>\n<p><span style=\"font-weight: 400\">Before getting into the papers content, lets see how the Fed <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.federalreserve.gov\/aboutthefed.htm\"><span style=\"font-weight: 400\">self-identifies<\/span><\/a><span style=\"font-weight: 400\">:<\/span><\/p>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\"><\/span><span style=\"font-weight: 400\">The Federal Reserve System is the central bank of the United States. It performs five <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> functions to promote the effective operation of the U.S. economy and, more generally, the public interest<\/span><span style=\"font-weight: 400\">.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Those five functions are: 1) conducting the nations monetary policy, 2) promoting the stability of the financial system, 3) promoting the safety and soundness of individual financial institutions, 4) fostering payment and settlement system safety and efficiency, and 5) promoting consumer protection and community development.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The paper is meant to be the first step in a public discussion between the Fed and stakeholders about CBDCs, which it defines as a digital liability of a central bank that is widely available to the general public. The paper cautions that it is not intended to advance any specific policy outcome, but the publication of the paper itself does just that. Most often, simply raising an issue has the effect of increasing recognition and acceptance of the topic.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The paper identifies three forms of money: central bank money, commercial bank money and nonbank money. Fed money has no credit and liquidity risk, bank money has some, and nonbank has the most because it is not subject to rigorous rules and supervision and cannot offer Federal Deposit Insurance Corporation insurance on deposits. Related firms like PayPal conduct balance transfers on their own books using various technologies, such as mobile <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div class=\"c-message_kit__gutter\">\n<div class=\"c-message_kit__gutter__right\" role=\"presentation\" data-qa=\"message_content\">\n<div class=\"c-message_kit__blocks c-message_kit__blocks--rich_text\">\n<div class=\"c-message__message_blocks c-message__message_blocks--rich_text\">\n<div class=\"p-block_kit_renderer\" data-qa=\"block-kit-renderer\">\n<div class=\"p-block_kit_renderer__block_wrapper p-block_kit_renderer__block_wrapper--first\">\n<div class=\"p-rich_text_block\" dir=\"auto\">\n<div class=\"p-rich_text_section\">\n<div class=\"jeg_postblock_carousel jeg_postblock_carousel_3 jeg_postblock jeg_col_8 jnews_module__0_61f7f26b54d7a    \">\n<div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='3000' data-items=\"3\" data-margin='20'>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Powers On\u2026 The Fed endorses cryptocurrency  Kind of\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Powers_On%E2%80%A6_The_Fed_endorses_cryptocurrency_Kind_of\"><\/span>Powers On\u2026 The Fed endorses cryptocurrency  Kind of<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 31, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Eth2 rebrands to consensus layer, Elon Musk fails to boost DOGE, YouTube gaming head switches to Polygon Studios: Hodlers Digest, Jan. 23-28\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Eth2_rebrands_to_consensus_layer_Elon_Musk_fails_to_boost_DOGE_YouTube_gaming_head_switches_to_Polygon_Studios_Hodlers_Digest_Jan_23-28\"><\/span>Eth2 rebrands to consensus layer, Elon Musk fails to boost DOGE, YouTube gaming head switches to Polygon Studios: Hodlers Digest, Jan. 23-28<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 29, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Security\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Heres_how_to_keep_your_crypto_safe\"><\/span>Here\u2019s how to keep your crypto safe<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 25, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Binance CEOs net worth hits $96B, Jack Dorsey launches BTC defense fund, Bill Miller apes into Bitcoin: Hodlers Digest, Jan. 9-15\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Animoca_Brands_doubles_valuation_to_5B_OpenSea_tops_35B_in_January_volume_Microsoft_eyes_Metaverse_gaming_Hodlers_Digest_Jan_16-22\"><\/span>Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in January volume, Microsoft eyes Metaverse gaming: Hodlers Digest, Jan. 16-22<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 22, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Boston nurse fired for nudes on OnlyFans launches crypto porn app\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Boston_nurse_fired_for_nudes_on_OnlyFans_launches_crypto_porn_app\"><\/span>Boston nurse fired for nudes on OnlyFans launches crypto porn app<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 21, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>\u00a0<\/p>\n<h4><\/h4>\n<p><span style=\"font-weight: 400\">Central bank money is a liability of a central bank, commonly known as fiat or sovereign currency, and can exist in physical form like banknotes or as digital balances held by commercial banks at the Federal Reserve. Bank money is generally deposits commonly used by the public and can be in digital form. While there have been improvements in recent years to the traditional, or legacy, financial system  such as the digital real-time payments network and planned debut of the FedNow Service in 2023  the paper recognizes there are still challenges. One is in the area of cross-border payments, which presently have slow settlement times, high fees and limited accessibility.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Another challenge is the significant number of Americans still, in 2022, lacking access to digital banking and payment services. Over 5% of U.S. households, or over 7 million Americans, remain unbanked, even though that percentage has decreased from 8.2% over the past 10 years.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-10868 aligncenter\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Unbanked-rates-by-region-300x252.png\" alt=\"\" width=\"640\" height=\"537\" \/><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">Some of the explanations given by unbanked people include that they lack sufficient funds to meet the minimum deposit to open a traditional bank account, distrust banks, have privacy concerns or that bank fees are too high. All of these seem strikingly similar to the reasons given by Satoshi Nakamoto back in October 2008 for creating the Bitcoin blockchain. The Feds paper also states that an additional 20% of households have accounts with banks but rely on more costly financial services such as check-cashing services, payday loans and money orders. That totals an astonishing 35 million Americans either unbanked or underbanked!<\/span><\/p>\n<p><span style=\"font-weight: 400\">Given the challenges, the paper discusses the recent use of digital assets with money-like characteristics, such as cryptocurrencies and stablecoins. Significantly, it references the Presidents Working Group on Financial Markets <\/span><span style=\"font-weight: 400\">report released last November<\/span><span style=\"font-weight: 400\">, which notes that If well-designed and appropriately regulated, stablecoins could support faster, more efficient, and more inclusive payments options. <\/span><i><span style=\"font-weight: 400\">Ahem<\/span><\/i><span style=\"font-weight: 400\">. This is something private businesses and crypto traders have known for maybe five years already! But its good that our government officials are at least now realizing these benefits.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>(function() {window.mc4wp = window.mc4wp || {listeners: [],forms: {on: function(evt, cb) {window.mc4wp.listeners.push({event   : evt,callback: cb});}}}})();<!-- Mailchimp for WordPress v4.8.6 - https:\/\/wordpress.org\/plugins\/mailchimp-for-wp\/ --><\/p>\n<div class=\"mc4wp-form-fields\">\n<div class=\"jeg_mc4wp_heading\">\n<h3><span class=\"ez-toc-section\" id=\"The_best_of_blockchain_every_Tuesday\"><\/span>The best of blockchain, every Tuesday<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>  Subscribe for thoughtful explorations and leisurely reads from Magazine.<\/p>\n<\/div>\n<p>By subscribing you agree to our Terms of Service and Privacy Policy<\/div>\n<p><label>Leave this field empty if you&#8217;re human: <\/label><\/p>\n<div class=\"mc4wp-response\"><\/div>\n<p><!-- \/ Mailchimp for WordPress Plugin --><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">The paper concludes by laying out how a CBDC might fit into the U.S. money and payments landscape. It raises the design requirements for the protection of privacy, the way a CBDC might interfere with traditional methods used by the Fed to regulate the U.S. economy, its need to be accepted by and widely transferable among various inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries and customers, and the need to be able to identify and combat money laundering and the financing of terrorism. To me, some of the most revealing sentences in the paper, showing Powells hand, include the discussion in the section Potential Benefits of a CBDC.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><strong><\/strong> A CBDC could potentially serve as a new foundation for the payment system and a bridge between different payment services, both legacy and new. This is something the international regulatory think tank Global Digital Finance wrote about in its paper The Age of Public Digital Currency: A Guide to Issuance, of which I was a contributing author.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><strong><\/strong> A U.S. CBDC would offer the general public broad access to digital money that is free from credit risk and liquidity risk.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><strong><\/strong> Another potential benefit of a U.S.-issued CBDC could be to preserve the dominant international role of the U.S. dollar. This is a <\/span><span style=\"font-weight: 400\">topic and concern I wrote<\/span><span style=\"font-weight: 400\"> about in February 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><strong><\/strong> Some have suggested that a CBDC could reduce common barriers to financial inclusion and could lower transaction costs, which could be particularly helpful for lower-income households. This is certainly a worthwhile benefit and something I can see the Biden administration wanting and getting behind.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A final noteworthy fact stated in the paper is the decline of cash and banknotes. Cash use has fallen from over 40% of transactions in 2012 to 19% in 2020. Given all of this, it will be interesting to see and hear more on this from the Fed and other government agencies and officials in the coming months.<\/span><\/p>\n<p>\u00a0<\/p>\n<hr \/>\n<blockquote><p><b>Marc Powers<\/b><span style=\"font-weight: 400\"> is currently an adjunct professor at Florida International University College of Law, where he is teaching Blockchain, Crypto and Regulatory Considerations and Fintech Law. He recently retired from practicing at an Am Law 100 law firm, where he built both its national securities litigation and regulatory enforcement practice team and its hedge fund industry practice. Marc started his legal career in the SECs Enforcement Division. During his 40 years in law, he was involved in representations including the Bernie Madoff Ponzi scheme, a recent presidential pardon and the Martha Stewart insider trading trial.<\/span><\/p>\n<\/blockquote>\n<hr \/>\n<p><i><span style=\"font-weight: 400\">The opinions expressed are the authors alone and do not necessarily reflect the views of Cointelegraph nor Florida International University College of Law or its affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice.<\/span><\/i><\/p>\n<hr \/>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div class=\"c-message_kit__gutter\">\n<div class=\"c-message_kit__gutter__right\" role=\"presentation\" data-qa=\"message_content\">\n<div class=\"c-message_kit__blocks c-message_kit__blocks--rich_text\">\n<div class=\"c-message__message_blocks c-message__message_blocks--rich_text\">\n<div class=\"p-block_kit_renderer\" data-qa=\"block-kit-renderer\">\n<div class=\"p-block_kit_renderer__block_wrapper p-block_kit_renderer__block_wrapper--first\">\n<div class=\"p-rich_text_block\" dir=\"auto\">\n<div class=\"p-rich_text_section\">\n<div class=\"jeg_postblock_carousel jeg_postblock_carousel_3 jeg_postblock jeg_col_8 jnews_module__1_61f7f26b5ba77    \">\n<div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='3000' data-items=\"3\" data-margin='20'>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Powers On\u2026 The Fed endorses cryptocurrency  Kind of\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Powers_On%E2%80%A6_The_Fed_endorses_cryptocurrency_Kind_of-2\"><\/span>Powers On\u2026 The Fed endorses cryptocurrency  Kind of<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 31, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Eth2 rebrands to consensus layer, Elon Musk fails to boost DOGE, YouTube gaming head switches to Polygon Studios: Hodlers Digest, Jan. 23-28\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/jan-23-28-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Eth2_rebrands_to_consensus_layer_Elon_Musk_fails_to_boost_DOGE_YouTube_gaming_head_switches_to_Polygon_Studios_Hodlers_Digest_Jan_23-28-2\"><\/span>Eth2 rebrands to consensus layer, Elon Musk fails to boost DOGE, YouTube gaming head switches to Polygon Studios: Hodlers Digest, Jan. 23-28<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 29, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Security\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-Experts-reveal-how-to-keep-your-crypto-safe-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Heres_how_to_keep_your_crypto_safe-2\"><\/span>Here\u2019s how to keep your crypto safe<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 25, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Binance CEOs net worth hits $96B, Jack Dorsey launches BTC defense fund, Bill Miller apes into Bitcoin: Hodlers Digest, Jan. 9-15\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/DEC-9-15-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Animoca_Brands_doubles_valuation_to_5B_OpenSea_tops_35B_in_January_volume_Microsoft_eyes_Metaverse_gaming_Hodlers_Digest_Jan_16-22-2\"><\/span>Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in January volume, Microsoft eyes Metaverse gaming: Hodlers Digest, Jan. 16-22<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 22, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div>\n<div class=\"jeg_post_wrapper\">\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Boston nurse fired for nudes on OnlyFans launches crypto porn app\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/magazine-ICU-nurse-fired-for-Only-Fans-launches-crypto-porn-alternative-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Boston_nurse_fired_for_nudes_on_OnlyFans_launches_crypto_porn_app-2\"><\/span>Boston nurse fired for nudes on OnlyFans launches crypto porn app<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> January 21, 2022<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<\/div><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/magazine\/2022\/01\/31\/the-fed-endorses-cryptocurrency\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Powers On\u2026 The Fed endorses cryptocurrency \u2014 Kind of&#8221; &lt;p&gt;&lt;strong&gt;This month, the Board of Governors of the United States Federal Reserve System issued its widely anticipated report&lt;\/strong&gt;&lt;span style=&#8221;font-weight: 400&#8243;&gt;&lt;strong&gt; on the nations possible use and adoption of digital currencies for its financial system.&lt;\/strong&gt; The document is titled Money and Payments: The U.S. Dollar in the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":401681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2022\/01\/Marc-Powers4.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-401680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/401680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=401680"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/401680\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/401681"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=401680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=401680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=401680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}