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In February government-nervous crypto-currency enthusiasts were given a boost when Federal Reserve Chair Janet Yelle [url=https://www.cup-stanley-cup.pl]stanley kubek[/url] n said that she did not think the Fed could regulate bitcoin. Her reasoning at the time was that given bitcoins status as a financial tool that evolved and [url=https://www.stanley-cup.us]stanley cup[/url] existed largely outside o [url=https://www.stanleycup.fr]stanley cup[/url] f the influence of traditional banking it simply fell outside of the government departments preview.The world, however, is a rapidly changing place and the minutes聽from a Federal Reserve Advisory Committee meeting in early May聽indicate that the Feds position on this subject may be evolving and that a need for federal bitcoin regulation is beginning to be felt.The reasoning is that as bitcoin enters into it second phase of development, and as bitcoin related financial products emerge from Fed regulated banks, Yellens reasoning no longer applies. Bitcoin does not present a threat to economic activity by disrupting traditional channels of commerce; rather, it could serve as a boon 8230; Its global transmissibility opens new markets to merchants and service providers 8230; Driving capital flows from the developed to the developing world should increase consumption, the advisory committee noted.Their suggestion is that the Fed should treat bitcoin much the way they treat other financial services products. Whats Hot is aggregated content. PYMNTS claims no responsibility for the accuracy of the content published by the original source.
