Latest Cryptocurrency News

Fed's Powell urges broader regulation for stablecoins

Sep. 27, 2022 10:01 AM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that stablecoins will need greater regulation as they become more widely used by consumers. Powell also said, in virtual remarks to a conference on digital finance in Paris, that the Fed hasn't yet decided on...

Rare bear market in bonds strips investors of safe haven

Sep. 22, 2022 11:11 AM EDT

NEW YORK (AP) — A rare bear market in bonds hasn't gotten much attention, but it may be inflicting more pain on investors than the downturns for stocks, cryptocurrencies and other investments. Investment-grade bonds — those issued by governments and corporations with good credit...

How steep Fed rate hikes affect your finances

Sep. 21, 2022 14:08 PM EDT

NEW YORK (AP) — Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier. Savings rates are slightly juicier, though. As the Federal Reserve has rapidly increased interest rates, many economists say they fear that a recession is...

S. Korea requests Interpol's help in Terraform Labs probe

Sep. 19, 2022 23:19 PM EDT

SEOUL, South Korea (AP) — South Korean prosecutors have asked Interpol to issue a fugitive alert for the founder of Terraform Labs as they investigate a $40 billion crash of the firm’s cryptocurrency that devastated retail investors around the world. The Seoul Southern District...

Treasury recommends exploring creation of a digital dollar

Sep. 16, 2022 12:29 PM EDT

WASHINGTON (AP) — The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after...

EXPLAINER: Ethereum is ditching its 'miners.' Why?

Sep. 15, 2022 18:19 PM EDT

SAN FRANCISCO (AP) — A complex software change to the cryptocurrency ethereum holds the potential to dramatically reduce its energy consumption — and resulting climate-related pollution. But the transition known as "the merge" is not going to do the trick by itself. With the...

House panel calls for cryptocurrency fraud oversight

Aug. 30, 2022 17:17 PM EDT

WASHINGTON (AP) — A House oversight subcommittee asked regulators and industry leaders on Tuesday to explain what they are doing to stop cryptocurrency fraud and other scams perpetrated on consumers. Illinois Rep. Raja Krishnamoorthi, head of the Economic and Consumer Policy...

Crypto firms say US sanctions limit use of privacy software

Aug. 26, 2022 14:45 PM EDT

WASHINGTON (AP) — The Treasury Department is facing pushback from the cryptocurrency industry over sanctions imposed on a firm accused of helping to launder billions of dollars — with some funds going to North Korean hackers. Earlier this month, the Treasury Department imposed...

Spanish market regulator warns about cryptocurrency event

Aug. 26, 2022 13:56 PM EDT

MADRID (AP) — Spanish financial authorities are planning to keep a close eye on a major cryptocurrency metaverse event being organized in Madrid this weekend. The CNMV stock market regulator this week warned that neither the organizers of the event, Mundocrypto, nor the sponsors...

Asian shares track Wall Street gains on cooling inflation

Aug. 11, 2022 00:18 AM EDT

BANGKOK (AP) — Shares advanced Thursday in Asia after benchmarks closed at three-month highs on Wall Street as investors cheered a report showing inflation cooled more than expected in July. Hong Kong, Shanghai and Seoul saw gains of more than 1%. Tokyo was closed for a holiday....