Digital Dollar

Senate Banking Committee Remains Open to Idea of Digital Dollar in Tuesday’s Hearing

Not every U.S. lawmaker is on board with the idea of a central bank digital currency (CBDC) or digital dollar, but no one explicitly rejected it during a hearing of the powerful Senate Banking Committee Tuesday. That’s probably the biggest takeaway from Tuesday’s hearing, where the panel heard from former regulator turned CBDC evangelist Chris …

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Witnesses Will Vouch for Stablecoins, Digital Dollars in US Senate Hearing Tuesday

The idea of a “digital dollar” will once again rear its head before the U.S. Congress on Tuesday. The U.S. Senate Committee on Banking, Housing and Urban Affairs will hold a hearing on “The Digitization of Money and Payments,” and while few details have been released, the witnesses – former Commodity Futures Trading Commission (CFTC) …

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New Head of US Bank Regulator Talks Bringing Crypto to DC With Cointelegraph

Days into his term as acting head of the Office of the Comptroller of the Currency, Brian Brooks spoke with Cointelegraph on how he hopes to update legacy systems with crypto technology. Brooks came to the OCC from a role running Coinbase’s legal team only months ago, which informs a great deal of what he …

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US Financial Services Committee Hearing Discussed the Creation of a ‘Digital Dollar’

2 Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval Switzerland’s financial regulator, FINMA, has approved two Zurich-based banks to offer a range of cryptocurrency services, including trading and custody. Maerki Baumann Bank subsequently announced the launch of its trading platform for major cryptocurrencies while Incore Bank is offering a … read more. …

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Digital Dollar? Get Real, Financial Inclusion Advocates Tell Congress

Currently just a flashy idea, the digital dollar is competing with more prosaic but proven 20th-century methods for the job of getting stimulus funds to every U.S. resident. That’s the takeaway from Thursday’s House Financial Services Committee (FSC) hearing, where witnesses advocated different solutions to the problem. Making the case for an electronic greenback was …

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Can Central Bank Digital Currencies Protect Individual Privacy?

Crypto industry leaders and law experts debated the privacy implications of central bank digital currencies (CBDC) during the ‘Money Re-Imagined’ panel as part of Consensus:Distributed on May 11. Lawrence Summers, the former U.S. Treasury Secretary and former chief economist of the World Bank, argued that the current fiat monetary system exhibits issues of too much …

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How the COVID-19 Crisis Revived the Digital Dollar Debate

Lawmakers have used the coronavirus crisis to revive the digital dollar debate. U.S. House and Senate bills proposed in March, which would allow individuals to hold checking accounts directly with the Federal Reserve, have renewed demand for a tech upgrade of the central bank’s issuance system. Millions of U.S. taxpayers have waited for weeks for …

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Digital Dollars Give the State Too Much Control Over Money

Max Raskin is an adjunct professor of law at New York University. A bipartisan group of U.S. congressmen wrote Treasury Secretary Steven Mnuchin last week, urging him to consider the use of blockchain technology in administering the federal government’s coronavirus response. This comes just a month after Democrats in the House and Senate proposed bills …

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