A Digital Dollar Debate In The Senate

Plus the conclusion of the largest cyber fraud case in US history

Happy Tuesday, Blockfolians

The Lede

Following recent conversations in Congress, the U.S. Senate Committee on Banking, Housing and Urban Affairs is holding a hearing on “The Digitazation of Money and Payments.”

As with all hearings like this, the Committee has invited a number of experts. In this case, they include former CFTC Chair and Digital Dollar Project lead Christopher Giancarlo, Paxos co-founder and CEO Charles Cascarilla and Duke University Visiting Professor of Law Nakita Cuttino.

Prepared comments suggest that much of the discussion will revolve around central bank digital currencies and stablecoins. What’s more, a big part of the conversation is likely to focus on how any digital payment system could improve, rather than further impair, the outcomes for low income Americans.

Chris Giancarlo: Don't Rush Digital Dollar During COVID-19 - CoinDesk

While these hearings are mostly fact-finding for members of the Senate, the fact that they’re coming now - so close after similar hearings in Congress and just a few months after Democrats proposed a digital currency as a solution for distribution COVID-19 relief - are an indicator of the growing interest in the government around this important issue.

Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.


Highly Relevant Reading


Community Commentary

Want to better understand what the hell happened with the Balancer labs flash attack? Anthony has you covered.
Okay Joe’s right we do kinda do that.

A Really Big Number We Should Be Paying Attention To  

$568,000,000

That’s the amount of payment card fraud Sergey Medvedev has plead guilty to in the largest cyber fraud case in US history. Massive.


Final Thought

Now THAT’S a meme.