ChainReg 26 -- Dollar Token Dramas
FRB courts controversy again, Stablecoin policy gains momentum
Welcome back from summer vacation! Policymakers spent their summer continuing to extend the regulatory perimeter deeper into the distributed ledger terrain across multiple vectors.
The crypto industry may be celebrating this week’s US judicial victory in the Greyscale case, but the broader picture shows an unrelenting — and accelerating — initiative to create concrete regulatory requirements regarding the full spectrum of crypto market technologies even as enforcement activities continue.
The Chart of the Week illustrates the depth and breadth of the policy activity which persisted even into the normally quiet early August period. The late July initiative by the U.S. House of Representatives to craft a more friendly framework for digital asset policy was met with swift, decisive, and far less welcoming regulatory activity from the Federal Reserve in early August.
Lost in the shuffle — a significant but subtle shift from the Federal Reserve regarding the digital dollar. See the Quote of the Week below.
Meanwhile, central banks continue to accelerate their efforts to launch digital currencies. From technical security protocols to high level geopolitics, the Top Three Reads this week provide a glimpse at the distributed ledger race underway at the world’s leading central banks.
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