2020 kicked off great for the crypto industry, with prices rallying and various optimistic predictions pouring into the crypto space.
Cryptos, a priority for 2020
A few days ago, it was also revealed that the US SEC announced that cryptos are one of its top priorities for 2020.
Digital assets are identified as one of the few key proprieties among the larger mission of enforcing the federal securities laws, proposing new rules and regulating the securities industry.
SEC Chairman Jay Clayton stated the following:
“OCIE’s 2020 examination priorities identify key areas of risk, both existing and emerging, that we expect self-regulatory organizations (SROs), clearing firms, investment advisers and other market participants to identify and mitigate.”
The Federal Reserve could digitize the US dollar
There are some rumors floating online claiming that the Federal Reserve plans to announce an initiative that could digitize the US dollar, says Anthony Pompliano, according to the latest reports coming from the Daily Hodl.
He first tweeted about these rumors the other day, and he reported that this announcement could come the very next week in an effort that could be mimicking China’s move that digitizes the yuan.
Rumors are circulating that the Fed is going to announce an effort to digitize the dollar this week.
This would be similar to China's effort to digitize the yuan.
Whether the rumor is true or not, the Fed should absolutely digitize the dollar.
Here is why: pic.twitter.com/8xvozAtFZr
— Pomp 🌪 (@APompliano) January 15, 2020
If the US moves ahead with a digital currency, Pompliano believes it would contribute to the crypto movement in the US in a big way.
Digitizing the dollar can trigger the adoption of digital wallets
“If they digitize the dollar, it will drive the adoption of digital wallets. Once people get a digital wallet, they will ultimately move towards the soundest money IMO (in my opinion).”
The feedback that Pomp received following this tweet was a really positive one.
A user said: “No matter how governments try to Digitize their currencies, It’s still not going to change the power of Decentralization. They’re only going to help us drive the entire planet into the Digitized Monetary system which would flood them into the decentralized world where BTC is King.”