The US is not ready to make a decision on the launch of the digital dollar

The US Federal Reserve has not yet made a decision on promoting CBDC in the US. This was stated by the head of the department, Jerome Powell, atconference on the role of central banks in digital asset markets.

"We won't make a positive decision for some time"- he explained.

The Fed, in collaboration with Congress and the executive branch, will focus on policy assessment and technology issues, Powell said.

The head of the Central Bank outlined a multi-year period during which the Fed will focus on "strengthening public confidence in the analysis carried out and the final conclusions that have yet to be drawn."

Referring to the digital dollar report, Powell emphasized that, if adopted, a CBDC would have several key characteristics:

• participation of intermediaries;
• privacy protection;
• identity verification;
• compatibility.

During his speech, the head of the Fed also noted that the current downturn in the cryptocurrency market has given regulators more time to identify and address weaknesses in industry oversight.

According to the functionary, the good news is the low level of penetration of traditional financial and banking systems with DeFi.

He pointed to "significant" structural problemsand lack of transparency in decentralized finance. In particular, there is a need to regulate “non-custodial wallets and algorithms,” he added.

Powell also noted the need for “proper oversight” of stablecoins.

Let us remind you that on September 16 the White House presentedconcept of regulation of the cryptocurrency industry. It involves many initiatives, including tightening enforcement practices against providers of services related to digital assets.

Bloomberg later learned about the developmentbill to regulate “stable coins”. In particular, he will introduce a two-year ban on new algorithmic stablecoins like TerraUSD. The head of the Bitcoin exchange Coinbase, Brian Armstrong, said that the strict approach of the US authorities to supervising the crypto industry is holding back its development.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest crypto exchange in the world is Binance. The platform supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.9
3	Bitget	https://bitget.com	7.8
4	Huobi	https://huobi.com	7.3
5	AAX	https://aax.com	6.9

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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