U.S. President Joe Biden has made his key appointees. How will his decisions affect the future of the digital currency industry in the United States?
For starters, Biden’s choice for his new Secretary of the Treasury Department, Janet Yellen has clearly pointed out her take on digital currencies. She acknowledges both its benefits and its risks. In a written testimony, she mentioned that there is a “need to look closely at how to encourage their use for legitimate activities while curtailing their use for malign and illegal activities.” She plans to work closely with regulators to implement an effective regulatory framework for digital currencies and other fintech innovations.
Meanwhile, Biden’s choice for SEC chairman, Gary Gensler is the former chairman of the Commodity Futures Trading Commission (CFTC). He has an extensive digital currency background having taught a cryptocurrency course at MIT Sloan and having testified before Congress several times about digital currency.
As expected, more regulation is already in the works, from other agencies besides the SEC. Advising the new president on his regulator appointments, is his “financial regulator review team.” Among his appointees include: Reena Aggarwal, a Georgetown finance professor who moderated panels on crypto and is a big believer in the potential of blockchain; Chris Brummer, a Georgetown law professor who hosts a fintech podcast and edited an academic textbook on digital currency assets and regulation; Simon Johnson, an MIT Sloan professor who co-authored a book on blockchain’s potential in global finance and Lev Menand, who helped lead the push for the development of a U.S. digital dollar.
Overall, Biden’s choices seem to be encouraging news for the space. But as for the outcome, we just have to wait and see.
In other news, the new travel pass technology of the International Air Transport Association (IATA) may soon be utilized by passengers of Etihad Airways. The airline is one of the first in the world to trial the IATA Travel Pass. The travel pass is so unique it uses blockchain to store user data to ensure there is no central database. The use of blockchain technology, in theory, assures passengers their data and personal health information is safe and secure. How does it work? It’s a mobile app that lets passengers create a digital passport. The digital passport certifies their pre-travel test or vaccination, to meet the requirements of their destination. The new app will also let travelers manage their travel documentation digitally, making their entire travel experience hassle-free.
And, here’s some exciting news from TonicPow. In a tweet, TonicPow has announced the launch of their newly rebuilt platform. It comes with great new features and new ways to promote your business and earn.
One new feature allows its users to search for campaigns directly from its website. Users are now able to improve their campaign image, as well as link a domain name to their account and post verified ads every time a campaign matches a target URL. Logging in is also now possible with HandCash, Money Button, or RelayX wallet, in addition to Twitter, Starfish and a regular email address. You can check out all their new features on TonicPow.com.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.