The Fed Developing a National Cryptocurrency? The Good and the Bad

A question is ringing through the minds of both the general public and regulators: Should the Fed develop a national cryptocurrency?

What Could the Fed Do to Improve Things?

We’ve discussed China’s plans to develop a state-issued cryptocurrency – likely a digital yuan – as a means of stabilizing its economy, monitoring people’s transaction histories and competing with the likes of Facebook’s Libra. Recently, Live Bitcoin News covered a new law passed in China that permits the digital yuan to move into the next stages of development, so we can assume that the country is very serious about developing this new system.

But seriously, should a state-run government really have anything to do with crypto?

There is both a good side and a bad side to such an idea. Let’s look at the obvious bad, and that is that crypto is designed to give monetary power back to the “little guy.” The people who use it… Those who are underserved (or not served at all) by traditional financial…