BITCOIN

Swiss investment banking giant UBS expects the U.S. dollar’s reign to live on. “We firmly believe we will be living in a U.S. dollar-centric world for years to come,” the bank’s executive said, adding that there will be some room for competitors. UBS on US Dollar’s Dominance Switzerland-headquartered investment bank UBS has argued that the U.S. dollar will retain its dominance for years to come. Alejo Czerwonko, Managing Director and Chief Investment Officer Emerging Markets Americas at UBS Global Wealth Management, said on Monday that despite the recent Fitch Ratings’ downgrade : We firmly believe we will be living in a U.S. dollar-centric world for years to come. He provided three reasons to support his argument. Firstly, “global currency regimes are sticky,” the UBS chief investment officer stated. Noting that the U.S. dollar dominates financial markets and international trade, he explained: “Changes in the world’s dominant currency have historically taken a long time to mate

The U.S. Securities and Exchange Commission (SEC) has sent a letter to District Judge Analisa Torres seeking permission to file an interlocutory appeal in the SEC v. Ripple case over XRP . In addition, the securities regulator’s motion will “seek to stay the district court proceedings.” SEC Seeks to Appeal Ruling in Ripple- XRP Case The U.S. Securities and Exchange Commission (SEC) sent a letter to District Judge Analisa Torres on Wednesday seeking permission to file an interlocutory appeal to her judgment in the SEC v. Ripple case over XRP . An appeal is described as interlocutory when it is made before all claims are resolved to all parties. The letter states: Specifically, the SEC seeks to certify the court’s holding that Defendants’ ‘Programmatic’ offers and sales to XRP buyers over crypto asset trading platforms and Ripple’s ‘Other Distributions’ in exchange for labor and services did not involve the offer or sale of securities under SEC v. W.J. Howey Co., 328 U.S. 293 (

The Federal Reserve has established a new supervisory program to increase oversight of crypto activities by the banks it regulates. The U.S. central bank also released additional guidelines for banks to follow before engaging in the issuance, possession, or transactions involving U.S. dollar stablecoins. Fed Steps up Crypto Oversight The Federal Reserve announced the establishment of the Novel Activities Supervision Program on Tuesday to increase oversight of novel activities by the financial institutions under its supervision. The Fed explained: The program will focus on novel activities related to crypto-assets, distributed ledger technology (DLT), and complex, technology-driven partnerships with nonbanks to deliver financial services to customers. Moreover, the central bank stressed that the program “will be risk-focused and complement existing supervisory processes.” On Tuesday, the Federal Reserve Board also released guidelines mandating banks to adhere to certain requir