US Federal Reserve Governor Says They Are Speeding Up Cryptocurrency Regulations

Today, a news report from Reuters has mentioned, once again, that the blockchain industry continues to develop at an unprecedented speed, and that regulators need to get themselves caught up to speed, or risk behind left behind in the dust.

In fact, the report suggests that many of the world’s Central Banks are becoming increasingly worried that the ongoing development of cryptocurrencies and digital assets is threatening the very balance of the current global financial system.

Their belief is that certain cryptocurrencies, namely stablecoins, as well as the advent of other major companies like Facebook launching its own digital currency, could potentially “reduce state control over money around the world”.

Regulators Are Being Left In The Dust

Yesterday, we reported that, in a formal financial reform proposal, Michael Bloomberg, former Mayor of New York City and current presidential candidate, made many financial recommendations for helping the U.S. economy recover, and even…