EDITOR NOTE: Yet another move toward the War on Cash and total government control over money creation, surveillance, distribution, and potential taxation and seizure may be advanced in the coming hearing on creating “digital dollars” to facilitate future stimulus payments. Everything done in the name of efficiency and improvement has veiled effects in centralization and control. This shouldn’t come as a surprise (it’s what “government” does...centralize things). You also know your only monetary recourse to this kind of power grab over (what should be) private assets.
The House Financial Services Committee will be holding a hearing to discuss the use of digital tools to improve the delivery of stimulus payments. The Task Force on Financial Technology, created along with the Task Force on Artificial Intelligence last year by Chairwoman Maxine Waters (D-CA), has responsibilities examining revisions to FinTech regulation including the legal and regulatory structure of consumer protections, data privacy issues, and consumer engagement.
Congressman Stephen Lynch (D-MA), who serves as Chair of the FinTech Task Force, will oversee a hearing this Thursday at 12pm ET titled, “Inclusive Banking During a Pandemic: Using FedAccounts and Digital Tools to Improve Delivery of Stimulus Payments.”
The notice of the hearing is listed on the House Financial Services website and the scheduled lineup of witnesses includes: Mehrsa Baradaran, Professor of Law, University of California, Irvine School of Law; The Honorable Chris Giancarlo, Senior Counsel, Willkie Farr & Gallagher and former Chairman, CFTC; Jodie Kelley, CEO, Electronic Transactions Association; and, Morgan Ricks, Professor of Law, Vanderbilt University Law School.
Originally posted on Forbes