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How Janet Yellen can help deliver the digital dollar
Updated on February 22, 2021
US Treasury Secretary Janet Yellen set Twitter ablaze during her confirmation hearing when she suggested that policymakers might “curtail” cryptocurrencies. The next day she gave a full written answer that highlighted the potential of digital currencies to foster financial inclusion, calming down the cryptosphere for a while. But the incident raised an urgent question: What precisely will the US Treasury Department do about the rise of digital currencies?
Given the sensitivity of the issue and other pressing problems, it would be understandable for Joe Biden’s new economic team to move slowly here. That would be a mistake: Secretary Yellen and Federal Reserve Chairman Jerome Powell should quickly harness the potential of these evolving financial tools, including a US-backed digital dollar.
Opinion
Powers On. is a new monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an Adjunct Professor at Florida International University School of Law, where he teaches a course on Blockchain, Crypto and Regulatory Considerations.
Dear Readers: Here is my first opinion piece for Cointelegraph since my retirement a month ago from law firm practice (and prior to that, the SEC) after a 40 year career. It is an exciting opportunity for me, and hopefully an interesting one for you. The shackles of politically correct, business sensitive communications are now gone, and I no longer have to ‘pre-clear’ or worry about the potential of my words offending regulators, politicians, colleagues, or clients of my law firm.
(Arthur Franklin/Unsplash)
Retail giants like Amazon are blurring the boundaries of consumption. But thanks to platforms that link online consumption to local interests, the desire to buy local, a trend fuelled by the COVID-19 pandemic, is now giving rise to a new phenomenon known as “digital localism.”
While the pandemic has resulted in border closures and an increased desire to localize production and use supply chains that are close to home, large platforms like Amazon have been criticized for cashing in on the economic misfortune for small local businesses brought about by the crisis.
In Québec, this spawned the creation of new platforms to sell local goods, such as Le Panier Bleu, Ma Zone Québec, Boomerang, Inc. and J’achète au Lac, a site for purchasing local goods in the province’s Lac St-Jean region.
Place/Date: - February 2nd, 2021 at 5:42 pm UTC · 6 min read Source: Mining City
Cryptocurrency is one of the fastest-growing industries in the world. As we enter the new year, new opportunities within crypto emerge. Mining City is one of the best options for people looking to enter this innovative area.
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