U.S. House Committee on Financial Services
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12,945 views • Streamed live on Jun 11, 2020
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Key moments
Us Central Bank Digital Currency
Us Central Bank Digital Currency
27:34
What Are Fed Accounts
What Are Fed Accounts
36:01
What Are Fed Accounts
36:01
I Think if We Make Sure To Make Sure that the Jurisprudence Is Developed around this and those Values Are Reflected in Aus Digital Dollar Cb Dc I Think It Could Be Very It Attractive on a Global and a Domestic Basis and some in some Other Time I'D Love To Have More Discussion with You about the Idea that Americans Are More Comfortable with the Commercial Use of Our Data I Disagree with that I Think I this Is Going To Be a Place Where We'Re GonNa Have To Do some Work in Terms of How Much Information Americans Actually Have about the Data Their Personal Data Being Used for Commercial Purposes and I Think that's a Different Frontier but I Do Agree with You on the Privacy
I Think if We Make Sure To Make Sure that the Jurisprudence Is Developed around this and those Values Are Reflected in Aus Digital Dollar Cb Dc I Think It Could Be Very It Attractive on a Global and a Domestic Basis and some in some Other Time I'D Love To Have More Discussion with You about the Idea that Americans Are More Comfortable with the Commercial Use of Our Data I Disagree with that I Think I this Is Going To Be a Place Where We'Re GonNa Have To Do some Work in Terms of How Much Information Americans Actually Have about the Data Their Personal Data Being Used for Commercial Purposes and I Think that's a Different Frontier but I Do Agree with You on the Privacy
50:27
They May Also Find that a Digital Currency Is a Starting Point To Come into Greater Financial Inclusion Easier than Actually Going to a Bank Even if There Was a Bank and They'Re in Their District They Might Find Mobile Device and Easier Access Point Okay so What You'Re Suggesting Is this Could Be a Major Answer for People Accessing Even Basic Governmental Benefits Not Sophisticated Complicated Issues of Commodities Trading but Just Basic Access to the Benefits That They'Re Rightfully Due under Law Is that Yes It Is and I Think that You Know
They May Also Find that a Digital Currency Is a Starting Point To Come into Greater Financial Inclusion Easier than Actually Going to a Bank Even if There Was a Bank and They'Re in Their District They Might Find Mobile Device and Easier Access Point Okay so What You'Re Suggesting Is this Could Be a Major Answer for People Accessing Even Basic Governmental Benefits Not Sophisticated Complicated Issues of Commodities Trading but Just Basic Access to the Benefits That They'Re Rightfully Due under Law Is that Yes It Is and I Think that You Know
1:02:23
Mr Kelly I'M GonNa Direct My First Question to You as You Know as Congress Responded to the Corona Virus Pandemic We Faced a Choice of Moving Quickly or Responding Perfectly and I Think We Made the the Correct Choice by Responding Quickly and Many of those Programs Have Now Been Implemented or Are Underway whether It's the Paycheck Protection Program or the Economic Stimulus Payments and Many of Your Member Companies Have Been Involved in both of those Programs and Others so My Question Is Taking a Step Back and Thinking toward the Next Economic or Other Crisis
Mr Kelly I'M GonNa Direct My First Question to You as You Know as Congress Responded to the Corona Virus Pandemic We Faced a Choice of Moving Quickly or Responding Perfectly and I Think We Made the the Correct Choice by Responding Quickly and Many of those Programs Have Now Been Implemented or Are Underway whether It's the Paycheck Protection Program or the Economic Stimulus Payments and Many of Your Member Companies Have Been Involved in both of those Programs and Others so My Question Is Taking a Step Back and Thinking toward the Next Economic or Other Crisis
1:04:36
The Blockchain Is a Force of Financial and Entrepreneurial Inclusion and Diversity That I Think Members of this Committee Should Take Seriously Particularly as We Put a Lot of Emphasis on under Banked and Unbanked People However I Am Concerned that Our Laws Were More Accurately Our Lack of Laws and Lack of Regulatory Clarity within the Digital Asset Space Will Hamper the Innovation That Needs To Take Place Here in the United States Which Is Why I Continue To Stress the Importance of a Bill I Have Introduced Called the Token Taxonomy Act It's a Bipartisan Bill Co-Sponsored by Democrats and Republicans
The Blockchain Is a Force of Financial and Entrepreneurial Inclusion and Diversity That I Think Members of this Committee Should Take Seriously Particularly as We Put a Lot of Emphasis on under Banked and Unbanked People However I Am Concerned that Our Laws Were More Accurately Our Lack of Laws and Lack of Regulatory Clarity within the Digital Asset Space Will Hamper the Innovation That Needs To Take Place Here in the United States Which Is Why I Continue To Stress the Importance of a Bill I Have Introduced Called the Token Taxonomy Act It's a Bipartisan Bill Co-Sponsored by Democrats and Republicans
1:15:59
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U.S. House Committee on Financial Services
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