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The US has always been flip-flopping on whether or not it should allow digital currencies to enter and influence its economy, without the restrictions imposed as of today. This time, things might become different as the US Federal Reserve finally plans to enter the cryptocurrency market by issuing its own coin. But it's not being hasty about it: it's asking for feedback from experts and the public by opening up a debate this summer, which is to be presumed somewhere between July and August. Below is the video... ...and an article about this major news. source: https://www.reuters.com/article/usa-fed-crypto-currency/fed-citing-crypto-risk-to-open-digital-currency-debate-this-summer-idUSS0N2MK079 There were some attempts by private US companies before in them issuing their own coin, with negative feedback from the US government because of its critical view of cryptocurrencies. Such was the case with Facebook's Diem (formerly Libra). But now, as indicated in the video, the US may have concerns over its standing in the digital currency technology as it acknowledges that it is lagging behind other countries in this field. And not to be left behind, IMO a US government-issued cryptocurrency for them is becoming a necessity for the purpose of staying ahead of other countries in digital currency. Details on how the public is going to provide feedback to the debate has not been discussed in the video and article. Procedures on how to do so may come at a later date, should the preparations on the debate goes smoothly. Also to be expected are the questions everyone might have as a concern. Some of these may be: Details of the planned US digital currency (white paper) Benefits and risks of that US digital currency The role and standing of other digital currencies in the US economy Whether or not the currency is available to US citizens only Any more questions you feel the debate should tackle? Just post them below. P.S. This topic will be updated with the debate itself once a related article is released.

According to a think tank, the U.S. should refrain itself from creating its own cryptocurrency and support those that already exists instead, as opposed to other countries like China that attempts to create their own. At least that is what I infer from this article. This will definitely boost the popularity and acceptance of cryptocurrencies already in use, especially the top ones. But there is the certainty that the U.S. will try to meddle in the affairs of the people using it, by imposing taxes, tracking personalities by the FBI, etc., in the name of national security or whatever. Then again, countries that have their own national cryptocurrency can also do that, and so much more, simply because their governments "own" it, and technically, they can do whatever they want with it. So maybe this think tank's approach isn't so bad after all. What do you think? Here is the link to the article: https://cointelegraph.com/news/conservative-us-think-tank-denies-need-for-federal-digital-currency

If the U.S. prides itself as a (self-proclaimed) center of digital technology, shouldn't they embrace cryptocurrencies as a new technology with a lot of potential? If they are going to spook crypto users by passing measures like harsh tax laws, and crypto companies decide to move their operations elsewhere, those countries they will move in are going to benefit more from what cryptocurrencies has to offer. The U.S. will lose out a lot if it other useful technologies based on crypto (blockchain just one of the many examples) are developed and used exclusively by countries that are more open to crypto. This is what an executive from Coinbase has in view when he made a statement saying that global customers (not residing in the U.S.) are the future. The U.S. has yet to make a definite clarification on its stand on cryptocurrencies and how it will tax its users. Staking was pointed out in this article. It is defined as "The process of staking involves locking up an amount of a given cryptocurrency in a wallet to participate in the operation of a blockchain in return for rewards." - source here. If the U.S is going to incur taxes on crypto users who is involved in staking to the point where it is barely profitable, it would make sense if staking itself becomes virtually non-existent in the U.S. and more prevalent in other crypto-friendly countries. Those countries in turn have the option to pass their own tax laws in a way that crypto users are not only given a lighter burden, they are given legal protection as well. And staking is only the tip of the iceberg. There are other grievances over the other aspects of crypto that the U.S. should address soon. Other countries are already gaining ground, and some are even adopting crypto-based technology on their own national currencies, while the U.S. is slowly getting lagged behind. source: https://cointelegraph.com/news/coinbase-exec-says-capital-will-flee-us-due-to-crypto-tax-laws