Feel its impacts for some time to come. The energy and Commerce Committee has been conducting oversight of the trauma administrations response to this crisis in this subcommittee is charged with overseeing the ftcs response is the primary federal agency tasked with overseeing our nations telecommute occasions infrastructure and charged with administrating the universal Service Program at no point has Broadband Service in the work done by the fcc but more important to americans as it is right now. For many of us highspeed broadband has become the means by which we work, live and stay healthy. In the last seven months the internet has become the lifeline we use to buy groceries, see doctors and interact with the outside world. Zoom has become a verb and americans all over the country are connecting over video chat for virtual worship, family reunions and so much more. In so many ways broadband has become the glue holding our society together as our nation and the world weathers this stor
Oversight of the trauma administrations response to this crisis in this subcommittee is charged with overseeing the ftcs response is the primary federal agency tasked with overseeing our nations telecommute occasions infrastructure and charged with administrating the universal Service Program at no point has Broadband Service in the work done by the fcc but more important to americans as it is right now. For many of us highspeed broadband has become the means by which we work, live and stay healthy. In the last seven months the internet has become the lifeline we use to buy groceries, see doctors and interact with the outside world. Zoom has become a verb and americans all over the country are connecting over video chat for virtual worship, family reunions and so much more. In so many ways broadband has become the glue holding our society together as our nation and the world weathers this storm. But the Digital Divide is growing has more americans struggle to pay their bills and stay c
Since the creation of bitcoin in 2008. Facebooks project has generated renewed interest in Digital Currencies, including how they react with u. S. And International Regulatory frameworks, the potential benefits and challenges they pose, and concerns around issues like antiMoney Laundering and counterterrorism efforts, including data privacy, Consumer Protections, commerce, and Monetary Policy. A few weeks ago, the head of the program joined the committee to provide an update on facebooks proposed Digital Currency. Somearcus emphasized important points and commitments. There are a number of regulators globally engaged on the facebook project. They will have the highest standards when it comes to data privacy and no Financial Data or account data that is collected will be shared with facebook. It will be headquartered in geneva switzerland, but will and haveistered oversight from u. S. Regulators. Though it may have begun this conversation, the block chain and cryptocurrency system is di
Morning. Be sure to watch thursday morning following the second night of the democratic president ial candidates debate of the 2020 race. Next, the Senate Banking hearing on regulating Digital Currency with tech and financial industry officials. This is one hour and 20 minutes. Sen. Crapo this hearing will come to order. Last congress, this Committee Held two hearings examining the Digital Currency ecosystem. In those hearings, we heard about some of the developments that have occurred within the Digital Currency marketplace since the creation of bitcoin in 2008. Facebooks project has generated renewed interest in Digital Currencies, including how they react with u. S. And International Regulatory frameworks, the potential benefits and challenges they pose, and concerns around issues like antiMoney Laundering and counterterrorism efforts, including data privacy, Consumer Protections, commerce, and Monetary Policy. A few weeks ago, the head of the program joined the committee to provide
[inaudible conversations] [inaudible conversations] well, good morning pete the subcommittee will come to order the chair recognizes himself an Opening Statement. Good morning welcome back before the subcommittee. Assistant secretary davidson the National Telecommunication Information Administration has been very busy since the last time you appeared for us and may. In a june nci or allocated the money for the broadbent equity access to the states. This amounts to 42. 5 billion dollars. Since then states have submitted their fiveyear action plan the infrastructure at law strict requirements such as ensuring funding achieves universal connectivity and prohibiting great regulations. I am concerned some of the state plans are calls for more federal funding required by the law and blatant efforts by states to engage in rate regulation of broadband services. Thankfully and cia has rejectedt his and his attempt including for my home state of ohio. Though it overrode existing networks in opti