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Federal Reserve Governor Lael Brainard says the research effort is driven by the growing role of digital private money, the migration to digital payments, the plans for the use of foreign CBDCs in cross-border payments, and concerns about financial exclusion.
Cryptocurrencies bounce back from Sunday sell-off, bitcoin still down 30% in May
Reuters | May 24, 2021 04:55 PM EDT
Representations of the virtual currency Bitcoin stand on a motherboard in this picture (Photo : REUTERS/Dado Ruvic/Illustration)
Bitcoin jumped more than 10% during a surge in cryptocurrencies Monday, regaining some ground lost during a weekend sell-off that was sparked by renewed signs of a Chinese crackdown on the emerging sector.
Bitcoin, the world s largest cryptocurrency, was last up 12% at approximately $39,400, erasing losses of 7.5% from a day earlier but still down by more than 40% from last month s record high.
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Second-largest cryptocurrency ether jumped nearly 19% to $2,491 after slumping more than 8% on Sunday to near a two-month low. It too has fallen by almost half from a peak hit earlier this month.