US Senator Pat Toomey supports the digital dollar and nominates Powell as chairman of the Federal Reserve

Senator Pat Toomey of Pennsylvania is one of the legislators who supported changes to the language surrounding cryptocurrencies in the recently passed Infrastructure Act. He stated that the United States should be the world leader in adopting central bank digital currencies. status.

In an interview with Bloomberg’s David Westin on November 23, Tumi Said The U.S. dollar should have “the most complex capability of any currency in the world” because the country can benefit from the digital dollar. However, the senator said that the introduction of any U.S. central bank digital currency should not rely on the Federal Reserve as a traditional bank for retail accounts, citing privacy issues.

“The idea of ​​having a tokenized dollar can be exchanged peer-to-peer on a platform where developers can innovate and develop new products and services…I think this is a good reason,” Toomey Say.

The Pennsylvania senator added that he will Vote for Jerome Powell’s nomination Re-elected as Chairman of the Federal Reserve. Toumi cited Powell’s role in stabilizing the US financial market in the first few months of the pandemic and the fact that he “has been taking action for some time now.”

As one of the 50 Republican members currently serving in the Senate, Toumi is supporting President Joe Biden’s nomination of Powell across party lines.then American party politics It seems to embed itself in every piece of legislation proposed, and the Democrats only control the houses of Congress with a small majority, and every vote is important when formulating policies.

related: The figure 8 encryption amendment in the Infrastructure Act is “an insult to the rule of law”

Tumi supports the joint efforts of the two parties Modify some regulations The recently passed infrastructure law does not apply to developers, miners, and others in the encryption field.The bill was finally passed by both the Senate and the House of Representatives, but did not make any clarifications on cryptocurrency, but Legislators propose legislation On November 18, to “fix” its tax reporting requirements.