Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Paglamon on June 11, 2020, 12:30:44 PM
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For the first time since the U.S. went on lockdown three months ago, lawmakers will convene Thursday to discuss digital currencies and other novel technologies.
The House Financial Services Committee (FSC) Task Force on Financial Technology will be evaluating how FedAccounts and other digital tools might help the federal government distribute stimulus payments to help Americans suffering the economic fallout of COVID-19. The virtual hearing kicks off at noon Eastern (16:00 UTC).
The concept of using FedAccounts to manage digital currencies has gained traction during the pandemic: bills introduced to the committee have suggested using bank accounts managed by the Federal Reserve to issue stimulus payments. The U.S. government has issued one round of payments by check, but only individuals who have filed taxes within the last two years received them. The idea behind FedAccounts is that any U.S. resident could receive these funds in a snap, rather than wait for a piece of paper mailed across several weeks by the Internal Revenue Service (IRS).
Source: https://www.coindesk.com/watch-us-lawmakers-will-talk-digital-dollar-fedaccounts-in-thursday-hearing
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The current situation with the economic consequences of the spread of coronavirus forces US lawmakers to introduce digital currency and digital dollar. This is probably one of the few positive effects of coronavirus. Without this, the United States is unlikely to pay attention to digital currency in the near future. The digital dollar issued by the US government should also significantly increase the interest of the country's population in cryptocurrency.