Hey ninjas, how’s the trading going? On the day, the cryptocurrency market is trading sideways with the largest crypto bitcoin reporting over 2% daily gains as it nears $10K. At press time, BTC is trading at $9,880, Ether is trading at $271 and is up 3.8% on its daily chart and XRP is also up 2.455 and is trading at $0.28.
Former chairman of the CFTC (Commodity Futures Trading Commission), Christopher Giancarlo, says he believes its time the Federal Reserve issued fully digital currency. He voiced he believe on the matter on the 21st of February, speaking with Yahoo Finance’s On the Move program he explained that the Federal Reserve has to issue a digital currency to catch up with the central bank of China’s digital currency CBDC.
He highlighted that the creation of a Digital Dollar would benefit customers shopping online as it will enable online transactions to take place without using intermediaries who a percentage from every transaction, he explained further that a digital dollar would allow online transactions to have the same immediacy of the analog world.
He explained that the creation of a digital Dollar is going to change things dramatically and the U.S laws need to evolve as they have previously done.