Facebook's Libra sent shockwaves through Washington D.C. when it was announced with much fanfare last summer. Indeed, it sparked a conversation among policymakers and legislators about the benefits of cryptocurrency, and stablecoins specifically, as well as broader questions about what money is and the implications of a Facebook rival to the U.S. dollar. Since this summer, a number of countries have announced their intentions to digitize their own sovereign currency. In China, the country has ramped up its own efforts to launch a blockchain-based version of their currency. None of this is going unnoticed on the Hill and on this most recent episode of The Scoop, Perianne Boring explores why concerns about China are driving lawmakers to focus on the space.

In this episode we discuss:

The history of blockchain and cryptocurrency policywork in the US

China's 84 blockchain patents and its plans for a digital currency 

Lawmakers concerns about China being the leader in blockchain and central bank digital currencies

Former CFTC chair Christopher Giancarlo's plan for a digital currency