Digital Currency Knowledge Lacking at Highest Levels in U.S. Government
Subheading: Fear and Apathy Hamper Implementation
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A concerning lack of understanding of cryptocurrency at the highest levels of the United States government continues to hamper implementation of digital assets, posing a significant obstacle to progress.
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This issue was evident during a recent hearing before the Senate Banking Committee, where multiple senators expressed concerns over the potential risks associated with cryptocurrencies, including their volatility and potential use for illicit activities.
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The lack of knowledge about cryptocurrency was also evident in a recent report by the Federal Reserve, which warned of the potential for cryptocurrencies to destabilize the global financial system if they are not properly regulated. However, the report did not provide any specific recommendations for how to address this issue.
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This lack of knowledge and understanding is a major concern, as it could lead to policymakers making decisions that are detrimental to the growth and adoption of cryptocurrency in the United States.
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