Chris Giancarlo Discusses a US Central Bank Digital Currency in Senate Testimony

June 8, 2021

The Senate hearing will address how to build a stronger financial system and the opportunities of a United States Central Bank Digital Currency (CBDC).

On June 9, J. Christopher Giancarlo, former chairman of the CFTC and senior counsel at the firm, will testify before the US Senate Banking Committee’s Economic Policy Subcommittee on “Building A Stronger Financial System: Opportunities of a Central Bank Digital Currency.” The virtual hearing will feature testimony given by Mr. Giancarlo and others on central bank digital currency.

In 2020, Mr. Giancarlo testified before the Senate banking committee’s economic policy subcommittee and the US Senate Banking Committee on the development of a US-led digital dollar and digital transformation of the US payments sector.

As Chairman and Chief Executive of the CFTC, Mr. Giancarlo oversaw regulation of the futures, options and swaps derivatives markets, including a focus on regulatory guidance for emerging technologies such as blockchain technology and cryptocurrencies. He is the founder and director of The Digital Dollar Project, a multi-stakeholder initiative to advance exploration of a United States CBDC.

The Senate hearing can be accessed here.