US Financial Services Committee hearing discussed the creation of digital dollar. United States Congress Financial Services Committee held a remote hearing about the creation of a “digital dollar.”
A number of well known individuals participated including the former Chairman of the U.S. Commodity Futures Trading Commission, Christopher Giancarlo, and members from the Electronic Transactions Association.
The issues of stimulus check delivery and contact have spurred politicians to start talking about a “digital dollar”. During the hearing, the United States Congress Financial Services Committee listened to testimony from a myriad of witnesses and members of the ‘Digital Dollar’ foundation.
Giancarlo stated that “A tokenized CBDC is one of these solutions that we’re advocating that the Fed explore further. Shouting into the void of academic research…about how our banking system leaves out some of our most vulnerable communities”.
Following the hearing, the DDF and the creation of the digital dollar is still likely 1-2 years out. However, Giancarlo said he is excited to see the ball start rolling.