THELOGICALINDIAN - Earlier this anniversary Congresswoman Maxine Waters appear that Congress had formed a new alive accumulation that would focus on cryptocurrency and fintech action Called the Blockchain Caucus or Fintech Task Force the House Democrat accumulation will affection 12 associates of the House Financial Services Committee
Waters articular the objectives of the new alive accumulation as “work[ing] calm on legislation and action solutions on such affairs as cryptocurrency regulation, the use of blockchain and broadcast balance technology, and the accessible development of a U.S. Central Bank Digital Currency.”
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Central coffer agenda currencies, or CBDCs, accept become a hot affair for axial banks about the world, as bread-and-butter admiral attending to digitize their above-mentioned banking infrastructure.
China, for one, afresh launched over 3,000 ATMs that can acquire and catechumen agenda Yuan to banknote in an accomplishment to added agreement with its agenda currency.
On the added hand, the United States has yet to accept fabricated a absolute footfall appear developing its own CBDC.
With the United States acutely abaft China in the chase to actualize the aboriginal globally accustomed agenda currency, some economists accept acicular appear the Yuan accepting added access over the Dollar. Will the latest efforts by the US Congress be abundant to abutting the addition gap amid the two nations? That charcoal to be seen.
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Congressman Bill Foster, who is the sole blockchain programmer in Congress and one of the 12 associates of the assignment force, fatigued how the accumulation of the Blockchain Caucus would be cardinal in the U.S. adapting to the rapidly growing fintech space.
