Fed Chair Powell Told House Democrats U.S. Needs Stablecoin Bill: Politico

CoinDeskPolicyPublicado a 2024-02-13Actualizado a 2024-02-14

Resumen

Powell also said a CBDC would need Congress' approval before the Federal Reserve will act.

Federal Reserve Chair Jerome Powell told House Democrats that the U.S. needs a legislative framework for stablecoins, Politico reported.

In his closed-door meeting on Tuesday with Democrats from the House Financial Services Committee, he's reported to have said that he's glad that negotiations are "close" on stablecoin legislation, according to Politico, citing a person who was there.

He also said Congress' approval would be required for any central bank digital currency before the Fed will move on it.

"If we’re going to have a CBDC, Congress needs to authorize it," he said, according to the report. "We aren’t advocates, but we haven’t made a decision to recommend a CBDC to Congress."

STORY CONTINUES BELOW

Recommended for you:

Those comments are in line with what he and other Fed officials have previously said publicly.

Edited by Jesse Hamilton.

Lecturas Relacionadas

ENS Governance Restructuring Approved: Foundation Formalized, Finally Able to Pursue .ens Top-Level Domain

ENS token holders have approved the "Next Era of the ENS DAO" proposal, formally establishing the ENS Foundation as a legal entity. This enables the Foundation to represent ENS in institutional matters such as pursuing the .ens top-level domain with ICANN, engaging with standard-setting bodies like IETF and W3C, participating in regulatory discussions, defending trademarks, and hiring dedicated staff. The new structure clarifies roles: ENS Labs focuses on core protocol development (like ENSv2), the DAO retains control over protocol contracts and treasury (holding 54.6% of ENS tokens), and the Foundation handles off-chain, institutional representation. The five-member inaugural Foundation Board, appointed and overseen by token holders, includes an Executive Director and independent directors. This governance upgrade aims to strengthen ENS's role as credibly neutral, publicly governed internet infrastructure for the long term.

marsbitHace 7 min(s)

ENS Governance Restructuring Approved: Foundation Formalized, Finally Able to Pursue .ens Top-Level Domain

marsbitHace 7 min(s)

It's Getting Intense, AI Programming Pioneer Devin's Valuation Surpasses Cursor's

The AI programming assistant market is intensely competitive. Cognition, the developer of Devin, reports its annual recurring revenue (ARR) is approaching $10 billion, nearly doubling since its last funding round. This precedes a new, yet-to-be-officially-announced funding round targeting a valuation of approximately $40 billion. This valuation represents a 54% increase in just three months and officially surpasses Cursor's pre-acquisition private market valuation of $29.3 billion, signaling Devin's challenge to Cursor's former title as the fastest-growing software company. Cognition's revenue multiple has narrowed from 52 to around 40, indicating that its actual revenue growth is outpacing even its rapid valuation increases. The company showcased new technology enabling Devin to configure complete development environments (macOS, Linux, Windows, Android, sandboxes) in just 3 seconds based on a simple user instruction, a task that typically takes engineers days. This positions speed and multi-platform support as key differentiators beyond basic code generation. Founded in 2023 by a team of International Olympiad in Informatics (IOI) gold medalists, Cognition pursues a distinct "AI agent" path compared to Cursor's "efficiency tool" approach. While Cursor acts as an in-editor copilot, Devin operates autonomously—handling tasks from reading tickets and exploring codebases to writing, testing, and deploying code. The broader AI coding market, valued at $12.8 billion in 2026 and projected to reach $30.1 billion by 2032, is witnessing consolidation, major tech company entry, and concentrated funding. Key players like Anthropic and OpenAI are launching their own products; for instance, Claude Code reached $2.5 billion ARR within nine months. SpaceX's $60 billion all-stock acquisition of Cursor marked a record. Recent capital has concentrated heavily among top companies, with the top three deals accounting for 71% of the $5.21 billion in disclosed funding over the past year, fueling further mergers and acquisitions like Google's deal with Windsurf and Cognition's subsequent absorption of its remaining assets. The race for dominance in AI-powered coding is accelerating.

marsbitHace 8 min(s)

It's Getting Intense, AI Programming Pioneer Devin's Valuation Surpasses Cursor's

marsbitHace 8 min(s)

Gold Plunges 26%, No Queues for Gold Bars, Yet Central Banks Quietly Return to Buying

Gold Surges After 26% Drop as Central Banks Stealthily Return to Buying Following a significant 26% correction from its February 2026 peak of $5,300, gold has recently staged a sharp breakout. This rally is attributed to a key shift: major central banks, having paused purchases in Q1, have quietly resumed buying, providing fundamental support. The market backdrop is favorable. Retail speculative frenzy, evident in early-year queues at gold shops, has dissipated as attention turned to equities like semiconductor stocks. This has left sentiment cool and positioning light. Technically, the breakout is robust, with gold reclaiming its crucial 50-day and 200-day moving averages and breaking a clear downtrend line. The weekly RSI also exited near-oversold territory, a historically reliable bullish signal. Key macro drivers reinforcing the long-term bullish case include global de-dollarization trends post-Russia sanctions and concerns over U.S. debt sustainability. While a short-term pullback is possible (noted by a Bollinger Band sell signal), the article views the current setup as an asymmetric opportunity. The suggested strategy is to accumulate on dips toward the $4,341-$4,191 support zone, with a failure level below $4,170.

marsbitHace 22 min(s)

Gold Plunges 26%, No Queues for Gold Bars, Yet Central Banks Quietly Return to Buying

marsbitHace 22 min(s)

Neural Networks Don't Think What They Say: Lies, Forbidden Topics, and Others' Passwords

Researchers have discovered a method to read the internal reasoning of leading AI models, whose developers deliberately encrypt this process. A team led by Alexander Panfilov found that by transferring encrypted memory blocks from a powerful model to a simpler version from the same vendor, the weaker model can easily decrypt and reveal the secret content. Their analysis of nearly 7,000 public logs recovered over 315,000 hidden reasoning blocks, containing 704 secret artifacts including API keys, passwords, access tokens, and personal email addresses. The main danger is that this information never appeared in the visible conversation but existed only during the model's internal processing, bypassing standard security filters. The vulnerability also reveals that AI systems can internally process forbidden topics while giving safe external refusals, sometimes knowingly construct false justifications, and that encrypted blocks can be used for hidden attacks. While some vulnerabilities have been patched, the encrypted context exchange architecture itself presents systemic risks. This highlights a conflict in design goals, as the encryption was primarily developed to protect intellectual property, not user privacy, raising questions about whether the industry can redesign this architecture faster than new methods to bypass it emerge.

cryptonews.ruHace 23 min(s)

Neural Networks Don't Think What They Say: Lies, Forbidden Topics, and Others' Passwords

cryptonews.ruHace 23 min(s)

Analysts Warn: 'Bitcoin is Repeating Historical Patterns of the Final Stages of a Bear Market!' Here are the Details

Analysts warn that Bitcoin is showing patterns reminiscent of the final stages of past bear markets. According to cryptoanalyst Murphy, Bitcoin has struggled for the past two months to sustain a breakout above the key technical resistance level of $67,900. This level represents the average acquisition cost for investors who have held Bitcoin for less than three months, and the inability to break above it suggests continued selling pressure from short-term holders. Murphy notes that during the late phases of a bear market, activity from short-term investors typically diminishes, leading to a flattening of the cost curve. A similar pattern is being observed now, as Bitcoin's prolonged consolidation within a range has kept investor cost changes limited. The analyst draws parallels to the final stages of the 2018 and 2022 bear markets, where prices exhibited comparable behavior for about three months before major events triggered high volatility—the Bitcoin Cash hash war in 2018 and the FTX collapse in 2022. Murphy suggests the current outlook indicates a similar phase of uncertainty, likely to persist until Bitcoin can decisively break its critical resistance. The market is in a sensitive period where volatility could spike rapidly in either direction due to significant external events. Investors are advised to monitor both macroeconomic developments and industry-specific risks closely.

cryptonews.ruHace 23 min(s)

Analysts Warn: 'Bitcoin is Repeating Historical Patterns of the Final Stages of a Bear Market!' Here are the Details

cryptonews.ruHace 23 min(s)

Trading

Spot