In this special episode, Rohan Grey (@rohangrey) joins Billy Saas (@billysaas) and Maxximilian Seijo (@MaxSeijo) to discuss the "ECASH" or "Electronic Currency and Secure Hardware" Act. Introduced by Rep. Stephen Lynch (MA-08), Chair of the House Committee on Financial Services' Task Force on Financial Technology, and based on Grey's research on electronic currency, the ECASH Act directs the Secretary of the Treasury to develop and pilot digital dollar technologies that replicate the privacy-respecting features of physical cash. Recognizing the United States Treasury as an institution ideally suited to managing a digital U.S. dollar, the Act treats monetary inclusion and privacy as a political rights and public goods, while at the same time eschewing the exclusionary and ecologically destructive effects of crypto currencies that rely on blockchain technologies.
The ECASH Act is co-sponsored by Rep.'s Jesús G. “Chuy” García (IL-04), Rashida Tlaib (MI-13), Ayanna Pressley (MA-07), and Alma Adams (NC-12) of the Committee on Financial Services, and endorsed by Americans for Financial Reform, Demand Progress, the Action Center on Race and the Economy (ACRE), and Public Money Action.
Rohan Grey is Assistant Professor of Law in the College of Law at Willamette University.
Full text of the E-CASH Bill
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Music by Nahneen Kula: www.nahneenkula.com