Economist and gold enthusiast Peter Schiff says the US Fed will have to fight a “complete economic collapse” and may face more to worry about than its current fight against inflation … SEC Chairman Gensler also offered two opinions on why crypto tokens other than Bitcoin should be considered securities. In addition to this, the latest Bitcoin.com News Week in Review states.
Economist Peter Schiff Warns Fed May Be Fighting “Total Economic Collapse”
Economist Peter Schiff predicts that the U.S. Federal Reserve will eventually throw in the towel on inflation protection and face “what I fear even more: a complete economic collapse, another financial crisis, or sovereign debt crisis.” He stressed that “months of declining inflation are in the review mirror,” and that we will now see “accelerating inflation.”
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SEC Chairman Explains Why All Crypto Tokens Except Bitcoin Are Considered Securities
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler detailed why he considers all crypto tokens other than Bitcoin to be securities. While acknowledging that crypto tokens may have different settings, he emphasized that “at their core, these tokens are securities.”
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Brazil’s Digital Real Passes Public Blockchain Pilot Test with Success
A tokenized version of the Digital Real, Brazil’s Central Bank Digital Currency (CBDC), has successfully passed a public blockchain pilot test. The test, conducted by local exchange Mercado Bitcoin using the Stellar network, showed that the digital real token can be used on the public blockchain in accordance with all compliance rules established by Brazilian law
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Artificial intelligence crypto assets continue to surge, accounting for $4 billion in market value
After a brief dip in mid-February 2023, artificial intelligence (AI) crypto assets have continued to rise over the past 30 days. Of the 74 AI-focused cryptocurrencies currently listed, the net value of all these tokens has risen to over $4 billion, which represents 0.37% of the overall value of the crypto economy.
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