Council of Councils
Think Global Health
Online Store
Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
Are Cryptocurrencies Still the Future of Money?
March 2, 2023 11:48 am (EST)
- Explainer Video
Since the creation of Bitcoin in 2009, cryptocurrencies have exploded in popularity and accrued over $1 trillion in collective value. But market volatility in 2022 threatened the crypto ecosystem—after peaking at over $68,000 in November 2021, the price of Bitcoin fell to under $17,000 twelve months later. This instability has brought new scrutiny to the industry and the countries that have embraced Bitcoin as currency: El Salvador and the Central African Republic. Financial regulators are now calling for more crypto oversight, but global efforts to regulate the industry have stalled. Given this simultaneous rise in global popularity and concern, what lies ahead for digital currency and the future of finance?
Top Stories on CFR
CFR experts discuss President Joe Biden’s decision to increase tariffs on various Chinese imports and the implications for the U.S. economy and U.S.-China relations.
Myanmar’s civil war between resistance groups and the ruling military junta has reached a decisive phase.
Despite China’s growing pressure, Taiwan has developed one of the world’s strongest democracies—one that will be increasingly tested in the coming years.