Federal Reserve is to issue digital money

Fed officials voiced their opinions about cryptocurrency and stable money
30 November 2017   959

It was reported during a conference on November 29 that the Federal Reserve is planning to issue its own cryptocurrency. The president and CEO of the New York branch of the organization William Dudley declared that the Fed was excited of digital currency and tried to examine it. He also added that despite apparent interest to this social and economic phenomenon it was too early to say about introducing such ideas.

Dudley admitted that he understood the fact of immaturity of the plan and voiced concerns for safety of digital currency. Digital currency is, in his view, more risky than stable money.

But other officials are not so certain that idea of issuing of Fed’s own cryptocurrency can spring to life. As Patrick Harker, the President of Fed’s Philadelphia branch, said, using both digital and stable money is only matter of trust. He declared that the world used paper money because of belief that the government supports it.

US Presidental Candidate to Accept BTC Donations

OpenNode payment solution allowed fans of Andrew Yang to show support by sending Bitcoin donations using the
25 July 2019   387

Supporters of the US presidential candidate from the Democratic Party, Andrew Yang, launched the independent political actions committee of the Humanity Forward Fund, realizing in particular the possibility of bitcoin donations from Lightning wallets. It is reported by CoinDesk.

Technical integration of the solution was made possible through the OpenNode payment service.

The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity. It allows the donors to have all of the amount go toward the actual donation rather than miner fees.
 

Afnan Rahman

CEO, OpenNode

According to representatives of the Humanity FWD, donations will be accepted exclusively in Bitcoins for 21 days after the launch of the committee. After this, it will be possible to support Young with fiat means.

At the same time, whether the Humanity FWD will store the received bitcoins or immediately convert them into Fiat, they have not yet decided in the committee.

Potentially earning or losing money creates additional regulatory requirements.
 

Seth Cohen

Founder, Humanity FWD 

He also stressed that the OpenNode commission of 1% is much lower than similar fees for processing services processing credit card transactions.

It is worth noting that one of the promises of Andrew Young, who is running for the US presidency, is “promoting legislation that provides clarity” for cryptocurrencies.

Young became the first participant in the 2020 race, who proposed a specific cryptocurrency policy. In particular, he intends to contribute to determining the status of a token [with recognition of the existence of utility tokens], powers of federal agencies, ensuring consumer protection in the field of cryptocurrency, developing a clear tax policy and creating a unified regulatory framework.