Senate Banking Committee Are Still Open to Digital Dollar Idea

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No one really rejected the idea during a hearing of the powerful Senate Banking Committee Tuesday.

CoinDesk reports, “That’s probably the biggest takeaway from Tuesday’s hearing, where the panel heard from former regulator turned CBDC evangelist Chris Giancarlo, Paxos CEO Charles Cascarilla and Duke Law professor Nakita Cuttino as expert witnesses.

The lawmakers present asked questions about financial inclusion, including what potential regulations or laws might make digitization easier and more accessible to the unbanked”

 

“The U.S. needs a digital dollar,” said Senator Tom Cotton (R-Ark.). “The U.S. dollar has to keep earning that place in the global payments system. It has to be better than bitcoin … it has to be better than a digital yuan.”

 

 

 

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