Credit card giant Visa has outlined what it calls a “universal payments channel” that would facilitate transactions between stablecoins and central bank digital currencies (CBDCs) in a bid to create a digital currency equivalent to the existing international payments system.
U.S. Federal Reserve Chairman Jerome Powell has said he does not intend to ban cryptocurrencies, but noted that stablecoins need greater regulatory oversight. Powell’s comments came during a two-hour long House Financial Services Committee meeting.
A judge has dismissed about half of the claims in a class-action lawsuit that alleged Bitfinex, Bittrex, Poloniex, Tether and others manipulated cryptocurrency markets. The lawsuit was filed by a group of traders and trading firms in June 2020, alleging the firms used USDT to manipulate crypto markets.
Top stories in the Crypto Roundup today:
- Visa Proposes ‘Universal Payments Channel’ For Stablecoins
- Fed Chair Has ‘No Intention’ of Banning Crypto
- Judge Dismisses Claims Against Bitfinex and Tether
- Crypto Market Movers – DYDX, AXS, OMG