Digital currency

Reps Lynch & Pressley Introduce Legislation to Develop Electronic Version of U.S. Dollar

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Congressman Stephen Lynch (D-MA 8) and Congresswoman Ayanna Pressley (D-MA 7) introduced a bill that would develop an electronic version of the U.S. dollar. “As digital payment and currency technologies continue to rapidly expand and with Russia, China, and over 90 countries worldwide already researching and launching some form of central bank digital currency, it is absolutely critical for the U.S. to remain a world leader in the development and regulation of digital currency and other digital assets,” said Rep. Lynch, Chairman of the Task Force on Financial Technology. “By establishing a pilot program within Treasury for the development of an electronic U.S. Dollar, the ECASH Act will greatly complement and advance ongoing efforts undertaken by the Federal Reserve and President Biden to examine potential design and deployment options for a digital dollar. Importantly, this pilot program will also preserve a role in our financial system for smaller anonymous cash-like transactions which are currently transacted in physical dollars and which have seen a rapid decline in use.”

The White House previously announced an executive order on March 9 instructing numerous federal agencies to study digital assets and provide numerous reports about their use and proposals that could regulate them. The hope of this legislation is to promote greater financial inclusion, maximize consumer protection and data privacy, and advance U.S. efforts to develop and regulate digital assets.

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Funny

The Day President Biden Met Jamaica Plain’s Former City Councilor John Tobin

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Would you believe that President Joe Biden thinks that a city councilor has the toughest elected job in the country? That's what he told former District 6 City Councilor John Tobin.  

Tobin, currently the Vice President of City and Community Relations at Northeastern University, shared the story on his personal Facebook page. (Tobin gave permission to Jamaica Plain News to republish his post.)

Back in 2007, the late, great Larry Rasky hosted a meet and greet for US Senator Joe Biden who was running for the Democratic nomination for President of the United States. I was struck by what a relaxed and casual affair it was.

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Government

Biden Nominating Mayor Walsh as Labor Secretary

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In a highly expected move, Boston Mayor Marty Walsh is being nominated by President-elect Joe Biden to be the secretary of the U.S. Department of Labor. Biden and Walsh have strong ties with each other. Biden swore in Walsh for the latter's second term. Walsh has been a strong supporter of unions for a long time, and they have supported him throughout his political career. When he was just 21 years old, he became a member of the Laborers' Union Local 223 in Boston.

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Elections

Videos! JP Celebrates President-Elect Joe Biden

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Were you in Jamaica Plain on Saturday after former Vice President Joe Biden won the presidential election? If so, you heard church bells ringing, car and air horns honking, people cheering, pots and pans being banged, dancing in the streets, and a whole lot more celebrating. Around 11:40 am or so word got out that Biden had been elected... The bells at the First Church in Jamaica Plain were ringing! Mere feet away at The Monument people were celebrating!

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Elections

Biden Bests Sanders in Boston on Way to MA Victory; Warren Places Third Citywide in Primary

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Former Vice President Joe Biden won the Democratic Party primary on Super Tuesday in Massachusetts, and surprisingly took Boston, too. Biden (43,210) won best by a mere 56 votes over Vermont Senator Bernie Sanders (43,154) in Boston. So each candidate took about 30 percent, but Biden 144,200 total votes were cast in the Democratic Party primary. Massachusetts Senator Elizabeth Warren, who was supported by many Massachusetts politicians, placed third with 39,188 votes, and third overall in the state, too. The results were very disheartening for the Massachusetts senator, who many thought would win her hometown state, even as Biden's campaign flourished in the last few days.

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