Similar to the challenges faced by Facebook's unsuccessful Libra initiative, PYUSD is encountering resistance in Washington. However, Michael J. Casey expresses greater optimism about its potential outcomes.
Bitcoin-based meme coins created using the new BRC-20 standard have contributed to rising Bitcoin fees, as they require more data than a standard transaction. However, proposals by some members of the Bitcoin community to block Bitcoin NFT projects through a filtering mechanism may undermine Bitcoin's fundamental principles of openness and decentralization, warns Michael Casey, CoinDesk's Chief Content Officer. While Bitcoin's governance challenges are becoming more complex, balancing innovation with the core values of the community will remain a critical task for its future success.
The Federal Open Market Committee's recent meeting left the markets confused due to ambiguous messaging, leaving them struggling to interpret the signals conveyed by both the FOMC statement and Chair Jerome Powell's comments. This is a common occurrence in central bank policy-setting, which often involves abstruse signals. However, the emergence of new tools like blockchain's cryptographic verification systems could potentially aid policymakers in making more informed decisions.
The CoinDesk editorial team came together to offer their valuable insights on the most crucial topics that will have a significant impact on the future course of the cryptocurrency industry.
The crypto industry remains preoccupied with Washington's ongoing 'war in crypto' This week, Michael Casey, the Chief Content Officer of CoinDesk, approaches the apparent increase in regulatory hostility from U.S. authorities from a fresh perspective: revenge.