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BTC $67,852.09 +1.99%
ETH $2,097.04 +3.64%
BNB $615.46 +0.88%
XRP $1.34 +1.70%
SOL $82.62 +0.26%
TRX $0.3126 -2.20%
DOGE $0.0920 +1.35%
ADA $0.2408 -1.06%
BCH $470.64 +2.62%
LINK $8.77 +1.73%
HYPE $36.70 -0.94%
AAVE $98.07 +1.53%
SUI $0.8772 +1.89%
XLM $0.1683 +0.26%
ZEC $254.95 +12.19%

permanent

TD Cowen: The U.S. Congress is close to permanently banning the Federal Reserve from issuing CBDC

Investment bank TD Cowen stated that the U.S. Congress may be close to passing legislation to permanently prohibit the Federal Reserve from issuing a Central Bank Digital Currency (CBDC). This move could benefit stablecoin issuers but may also introduce new complexities for cryptocurrency market structure legislation.Last week, U.S. Senator Ted Cruz proposed an amendment in the housing bill "21st Century ROAD to Housing Act," calling for a permanent ban on the Federal Reserve issuing CBDC. The amendment aims to convert the currently effective temporary ban, which lasts until 2030, into a permanent provision. The housing bill is expected to be submitted for a Senate vote as early as this week.Jaret Seiberg, Managing Director of TD Cowen's Washington research department, indicated that the housing bill ultimately submitted for the president's signature is likely to include this ban, and the possibility of a permanent ban is higher than that of a temporary one. Seiberg pointed out that the amendment is primarily aimed at solidifying the current policy stance.The Federal Reserve has repeatedly stated that it will not issue a digital dollar without explicit authorization from Congress. Meanwhile, several U.S. lawmakers have recently co-signed a letter to congressional leadership, urging for a permanent ban on CBDC. Congressman Ralph Norman stated that unlike cash, CBDC could allow the government to track transactions and monitor individual spending behavior, thus a permanent ban is necessary to protect the privacy and freedom of Americans.It is noteworthy that the U.S. House of Representatives passed the "Anti-CBDC Surveillance State Act" last year, which prohibits the Federal Reserve from directly issuing CBDC to individuals. Cruz has also been actively pushing for similar legislation in the Senate.

Flow has confirmed the permanent destruction of 87.4 billion counterfeit FLOW tokens, and all technical fixes for the security incident have been completed

The Flow Foundation officially announced the progress of the security incident resolution, confirming the permanent destruction of 87.4 billion counterfeit FLOW tokens, marking the complete technical resolution of the security incident.The related destruction operations were executed on-chain by the community governance committee, and all seized counterfeit assets have been completely withdrawn from circulation, in accordance with the independent recovery plan disclosed in the previous technical review. Currently, the validation nodes completed the deployment of security patches within 24 hours after the incident, and the network has continued to operate normally since then, with additional security measures introduced at the protocol level. Furthermore, network operation data shows that Flow has returned to a fully healthy state, processing over 3 million transactions in the past week, with all core DeFi protocols operating normally. With the completion of all security repairs, future efforts will focus on ecosystem expansion and product development. Previously, it was reported that Flow suffered a loss of $3.9 million due to a hacker attack, but user deposits were unaffected. In mid-January, its community governance committee completed the final recovery of unliquidated counterfeit FLOW tokens from centralized exchanges, including Binance and HTX.
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