The week in cryptocurrencyEven crypto enthusiasts have mixed feelings about their culture and markets. So it’s no wonder that lawmakers and regulators are torn over digital assets, as developments this week made clear. Cryptocurrencies have “completely failed” to become a legitimate payment system, the Fed chair, Jay Powell, said yesterday at a Senate hearing. Ms. Lummis, a Republican, had pressed Powell to be precise about terms, warning against speaking about all digital assets interchangeably. Dogecoin’s co-creator, Jackson Palmer, forcefully denounced the cryptocurrency world in sweeping terms this week, and even those still in the industry didn’t entirely disagree.

Source: International New York Times July 16, 2021 11:48 UTC