The House of Representatives Financial Services Committee held its annual hearing of the Treasury's FinCEN and the Office of Terrorism and Financial Intelligence, looking at terrorism-related financing with some talks on digital assets.
While there is a growing list of nations exploring and launching their CBDCs, the U.S. remains negative about creating its own, with officials citing risks to privacy, freedom, and cybersecurity.
U.S. Representative Warren Davidson claims CBDCs "corrupt money into a tool for coercion and control," he also called them the "financial equivalent of the Death Star."
Stablecoins were front and center in the House of Representatives' Financial Services Committee hearing last Wednesday, and some of the opinions voiced were more than a little unstable.
Patrick McHenry, Chairman of the House Financial Services Committee, announced his appointments for Chairs of the committee's subcommittees.
The letter is the latest appeal from U.S. lawmakers to the Securities and Exchange Commission in the ongoing debate about digital currency and stablecoin regulation in the United States.
The SEC had to defend its approach to cryptocurrency, as one antagonistic congressman let loose on them.
Several CEOs from largest banks in the U.S. were pulled in front of Congress to explain their position on blockchains and cryptocurrencies.
The U.S. could be inching closer to creating a regulatory framework for cryptocurrencies and initial coin offerings (ICO).
