federal reserve
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The Feds Wants Stablecoin Companies to Register as Banks: Report
As the Biden administration wrestles with plans to wrangle the notoriously under-regulated world of cryptocurrency, some officials are apparently taking cues from the tightly-controlled world of banks. That’s according to a new report from the Wall Street Journal claiming that some members of the administration are looking to impose “bank-like regulation” on crypto companies that…
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Philadelphia Literally Burns Old Money For Electricity
What happens to old paper money that’s too worn out to be used? It’s often recycled and made into everything from dog beds to packing materials. But the Philadelphia Federal Reserve office does something even more unique: They send the old currency to local power plants, where it’s burned for electricity.