Fed Outlines Pros And Cons Of A US digital Dollar -- But Avoids Taking A Stand for Now

HONG KONG, Aug 5 (Reuters) - Macau's government said on Friday it would resume ferry services with the southern Chinese city of Shenzhen on Aug.
8, as authorities try to unwind stringent COVID-19 restrictions in the world's biggest gambling hub.

Diving into the original Sonic the Hedgehog, which first came out Sega Genesis (or Mega Drive, as most regions outside the US knew it) in 1991, was as fun as it has been the last 31 years. There's a satisfying sense of speed as you zip through the more open levels, while the more labyrinthine ones are fun to explore.

The centrepiece of the reform will be the establishment of the NSW Independent Casino Commission, which will have enhanced and wide-ranging compliance and enforcement powers likely to extend beyond the existing powers of the existing authority.

"Crown Sydney is pitched as an 'exclusive high roller' venue, but with minimum table game bets starting from as low as $20, the casino will be accessible to many more people than they imply, increasing harm to the community," he said.

Not only is it destabilizing, the Fed's report appears to throw shade on the idea that the Fed currently has the authority to create such accounts. Moreover, the Fed could be signaling that it's wary about expanding its current role to these proportions.

"With the opening of Crown Sydney, we hold deep concerns about the gambling harm its operations will cause, and we are fearful that the NSW government will not put in place strong enough measures to protect people, their families and communities across the state."

"The new regulator will be truly independent, and will be directly funded by the Casino Supervisory Levy paid by both casinos, with independent decision-making on licensing and disciplinary matters," Mr Anderson said.

For the purists, Classic Mode lets you play with retro visuals, a 4:3 aspect ratio (with bars on the sides of the screen) and limited lives. I'm glad it's possible to recreate the old style of play, but it hardly feels like the ideal way to experience these games in 2022.

Sonic 2 is my sentimental favorite, having spent countless hours on it since it came to Genesis in 1992. This game is the perfect sequel, adding layers of sophistication through more colorful levels -- Chemical Plant and Casino Night Zones are a particular favorites -- whose more open design lets Sonic, Tails or Knuckles rip through. I encountered one glitch where Tails (as the computer-controlled secondary character) got caught on some scenery and kept trying to jump out, resulting an irritating bouncing sound until I finished the level. Not game-breaking, but still annoying.

888 had previously attempted to buy William Hill with Mecca Bingo owner Rank Group for £3.6billion in 2016 before abandoning the effort after being told their offer was too low and required massive debts to fund the purchase. 

After three decades of playing Sonic the Hedgehog games, I really should be immune to the speedy blue Sega hero's charms. Sonic Origins proved me wrong. Slightly irritable after a busy day, I loaded up this collection of classic '90s platforming games on my PS5 and all the tension melted away as soon as I heard that iconic title music.

If the US government monitors everything you buy -- from milk at your local store to poker chips during your next casino trip -- there's potential for abuse. "All sorts of profiling could emerge out of that, and hackers might deem that database to be quite valuable, too," Peebles said. "So you could picture predatory marketing to the elderly, for example, if the data got out."

How would a digital dollar work in practice? Americans are using and carrying less cash nowadays, turning to card and electronic payments instead, with 40% of individuals reporting that they didn't use cash for in-person payments in April, according to a survey by the Federal Reserve System's Cash Product Office. Mobile payment services like Venmo, Zelle and PayPal are increasingly popular, with 64% of survey respondents saying they regularly use a digital payment platform, according to a 2020 survey by the Travis Credit Union. 

Pre-tax profits at the Gibraltar-based business tumbled by two-thirds to £14.4million in the first half of 2022 as loosening Covid restrictions and stricter safety measures led to a decline in Britons gambling online.

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On Thursday, the Federal Reserve took a major step forward towards taking CBDCs seriously in the US, releasing a long-awaited report that examines the potential benefits and risks of CBDCs. This so-called digital dollar would incorporate elements of decentralized cryptocurrencies, like bitcoin, but with a major difference: It's issued and regulated by the country's financial authority.

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