U.S. Senate Banking Committee will focus again on the Digital Dollar and Payments

U.S. Senate Banking Committee will focus again on the Digital Dollar and Payments

The U.S. Senate Banking Committee will hold a virtual hearing on June 30 entitled “The Digitization of Money and Payments”, informs Forbes.

The hearing will focus on digitization of the payment system and dollar itself

As we wrote in a previous article, House spokeswoman Nancy Pelosi proposed a law of the economic stimulus on 22 March, in which she introduced a “digital dollar”. Another fighter for the digital dollar was Sherrod Brown (D-OH), who tried to include him in the third package of economic stimulus.

He didn’t make it to the package in March, but the US was still working on systems integration, and we’ll learn more these days.

The virtual meeting will also follow a hearing hosted by the FinTech group two weeks ago. The Senate Banking Committee is chaired by Senator Mike Crapo (R-ID) and the evaluator is Senator Sherrod Brown (D-OH).

Other participants include J. Christopher Giancarlo (Senior Counsel at Willkie Farr and Gallagher and former Chairman of the U.S. Commodity Futures Trading Commission).

David Treat (managing director, co-lead of ACN’s Blockchain business and Financial Services Blockchain practice) and Daniel Gorfine (Founder and CEO of Gattaca Horizons LLC) are also involved in the project.

Charles Cascarilla (Chief Executive Officer and Co-Founder of Paxos) will also attend the hearing, Paxos has created and manages its own stablecoin ‘PAX‘ and can provide adequate solutions for the digital dollar. Paxos has also partnered with Binance to release a stablecoin called ‘BUSD‘.

In the field of regulatory and financial regulations, Professor Nakita Q. Cuttino will have the floor, which will thus help to provide other important facts at the hearing.

The hearing will take place on Tuesday, June 30, 2020, 10:00 AM and you can view at this link.

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