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Fed Chairman Powell to Speak About Digital Currencies Next Week at IMF
It is not immediately known if Powell’s remarks will include his thoughts on a digital dollar.
Updated Sep 14, 2021, 10:10 a.m. Published Oct 15, 2020, 9:10 p.m.
Federal Reserve Chairman Jerome Powell will speak next week as part of a panel on the future of cross-border payments at the International Monetary Fund's (IMF) annual meeting.
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- Panelists will discuss “the benefits and risks of cross-border” digital currencies as well as their policy implications, IMF said.
- The panel, which will be webcast, will start at 8 a.m. ET on Monday.
- Also on the panel will be: Agustín Carstens, general manager of the Bank for International Settlements; Nor Shamsiah, governor of Bank Negara Malaysia; and Governor of the Saudi Arabian Monetary Authority Ahmed Abdulkarim Alkholifey, whose central bank is collaborating with the United Arab Emirates on a blockchain-based transaction platform.
- It was not immediately known if Powell’s remarks will include his thoughts on a digital dollar.
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Macquarie sees U.S. Senate near crypto deal as market structure, GENIUS rules advance
The bank said bipartisan Senate talks on market structure legislation and parallel GENIUS Act rulemaking could deliver a workable U.S. crypto framework by early 2026.
What to know:
- Macquarie said bipartisan Senate talks are gaining momentum as Democrats weigh a Republican market-structure proposal.
- A Senate Agriculture draft giving the CFTC more authority over digital commodities is moving in parallel, with the two tracks expected to be reconciled in 2026.
- The bank sees U.S. regulators finalizing GENIUS Act and stablecoin rules on a similar timeline, potentially putting a comprehensive federal crypto framework in place by early 2026.
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