TagSheila Bair

We Need A Federal Framework To Regulate Cryptocurrencies: Ex-FDIC Chair Sheila Bair

Sheila Bair, the former chair of the Federal Deposit Insurance Corporation (FDIC), says the time has come for a formal federal regulatory framework to be established to regulate cryptocurrencies. Bair, who's on the board of blockchain startup Paxos, said Congress needs to step in to regulate the marketing, trading, and selling of virtual currencies in light of how big the industry has become and...

Former FDIC Chair Urges Fed to Consider Issuing Central Bank Digital Currency

Sheila Bair, a former chair of the Federal Deposit and Insurance Corporation in the U.S., thinks the U.S. Federal Reserve Bank should seriously consider issuing a digital currency to reduce the risk of a financial crisis and improve monetary policy. Writing in Yahoo Finance, she noted that market volatility continues to shake confidence in banking systems. The U.S. has experienced a subprime...

We Shouldn’t Ban Bitcoin, Says Former FDIC Chair Sheila Bair

The former director of the US Federal Deposit Insurance Corporation (FDIC) Sheila Bair has doubled down on her stance in stating cryptocurrencies like bitcoin shouldn’t be outlawed. The former chairperson of the FDIC, a US federal government agency that provides insurance to bank deposits, has suggested regulation of activities surrounding cryptocurrencies instead of a blanket ban enforced by the...

Former FDIC Chair Argues against Banning Bitcoin

Sheila Bair, former director of the U.S. Federal Deposit Insurance Corporation (FDIC), recently argued that bitcoin shouldn’t be banned because of its "lack of intrinsic value.” Instead, the government should ensure a well-informed market, free from fraud, manipulation. and speculation. In an op-ed piece for Yahoo Finance, Bair initially pointed out that bitcoin is a bubble, given its meteoric...

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