Why Fed Chair Jerome Powell wants a stablecoin crackdown: CNBC After Hours

CNBC.com’s Pippa Stevens brings you the day’s top business news headlines. On today’s show, CNBC.com’s MacKenzie Sigalos explains why The Fed wants tighter rules on certain cryptocurrencies. Plus, the average hourly wage worker can no longer afford a one-bedroom apartment as prices climb.

00:00 – CNBC After Hours, July 15, 2021
0:26 – Dow ends the day slightly higher
1:01 – Jay Powell calls for stablecoin crackdown
2:37 – Numbers Round

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31 thoughts on “Why Fed Chair Jerome Powell wants a stablecoin crackdown: CNBC After Hours”

  1. " He's a boy is sheep's clothes"…can freeze Whites, demonstrates a Anti American feel, companies, interest now visible is the Federal Government interest alone forecast will be world business ' Democracy' not people, your in the wrong business of 'home' in America./We will see shorty you will not be ceo in decisions of executive affairs. Still making coding. Which is slander.

  2. CNBC are communists hores! The privately-owned Federal Reserve Bank are PURE EVIL and only seek to control & exercise unrighteous dominion over Humanity!
    This is World War III. NWO vs Humanity.
    What side are YOU on?

  3. 3:00 "2% of Bitcoin holders own 72% of the wealth" This is a lie, and Glassnode does a good job of disproving this FUD. "No, Bitcoin Ownership is not Highly Concentrated – But Whales are Accumulating" – RAFAEL SCHULTZE-KRAFT
    (2 FEB 2021) Glassnode.

  4. Wait I’m confused now. Why would the Fed go through the cost and effort to launch their own digital dollar when digital dollars (stable coins) already exist?

    This must be such a weird time for investors right now. On one hand, we know that cryptocurrency forms the future of banking. On the other hand, there’s a rule in Wall Street that says “don’t fight the Fed.” I’m not sure which of these two bits of knowledge I’m supposed to follow.

  5. I didn’t know that investing in crypto and stocks can change my life for good, as i saw comments about Ms Amelia here on YouTube, I decided to give her a try of $500, and after a week I got a Profit of $6,999 as a beginner, isn’t that fair enough?

  6. Funny how he says stable coins can be used to manulipate the market when he manipulates the market everyday what a hypocrite. He doesn't like crypto because he can't print them out of thin air. Lol 18 an hour is average i made that at my old job ? and was told I'm being paid really well what a liar they were.

  7. This is why I don't watch trash news channels, they have no clue and talk FUD. Makes them look stupid. When you got hedge funds doing millions of FTD's, swapping retail shares for synthetic to bring the price down, this trash network makes out it's a doomed stock. They really need to report the facts.

  8. I'm no fan of crypto, but when Jay Powell said a digital dollar would remove the need for crypto I literally laughed out loud. Does this guy have a clue or is he simply trying to hoodwink the public who doesn't know any better? A digital dollar would solve none of the issues that cryptocurrencies claim to address. Fiat is fiat and a digital dollar system would be easier for government to debase, regulate, and use as a means to pry and interfere in the lives of the citizenry.

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