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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Government

Congressman Lynch on Russian Aggression Towards Ukraine

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Congressman Stephen Lynch recently led a hearing to examine Russia's possible invasion of Ukraine. Russia recently brought 150,000 troops to Ukraine's borders, which President Joe Biden spoke about on Feb. 15. Lynch is the chairman of the Subcommittee on National Security, and led the hearing the same day. “By holding Ukraine hostage unless the United States and NATO surrender to his demands, President Putin threatens the fundamental principles of sovereignty, self-determination, and territorial integrity, that have helped to preserve global peace and security and that form the basis of the rules-based international order,” said Lynch.  “[It] is in our strategic and national security interests to help support the sovereignty and territorial integrity of Ukraine, and President Biden has been absolutely clear that if Russian troops cross over the border, the United States will respond decisively and impose swift and severe consequences.”
The Committee heard testimony from Michael McFaul, Director of the Freeman Spogli Institute for International Studies at Stanford University and former U.S. Ambassador to the Russian Federation; Lieutenant General (ret.) Ben Hodges, Pershing Chair in Strategic Studies at the Center for European Analysis and former Commanding General of U.S. Army Europe; Dr. Andrea Kendall-Taylor, Director of the Transatlantic Security Program at the Center for a New American Security; and the Richard Grenell, former Acting Director of National Intelligence.

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Coronavirus

Congressman Lynch Tests Positive for COVID-19 After Receiving Second Vaccine Dose

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Congressman Stephen Lynch announced that he tested positive for COVID-19, even after receiving the second dose of a Coronavirus vaccine. Lynch announced he tested positive on Jan. 29, stating that an unnamed staff member had tested positive earlier in the week. Lynch had received the second dose of the Pfizer vaccine, had tested negative before attending President Joe Biden's inauguration. "While Mr. Lynch remains asymptomatic and feels fine, he will self-quarantine and will vote by proxy in Congress during the coming week,” said Molly Rose Tarpey, Communications Director for Rep. Lynch.

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Coronavirus

Almost 2,000 Vaccine Doses Spoiled at JP VA Medical Center After Freezer Unplugged

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As people across the world clamor for Coronavirus vaccines, a careless circumstance led to nearly 2,000 vaccine doses being spoiled at the Jamaica Plain VA Medical Center. The plug of a freezer was loose after a contractor removed it while cleaning, reported NBCboston.com. The freezer in a secure location with an alarm system that was installed. Congressman Stephen Lynch visited the facility after hearing about the human error that led to the vaccine doses being compromised. His office shared an image of what the back of the freezer looked like before the error, and then after when it had been more secured.

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Government

Social Media Recap: Insurrection, Mayoral Vacancy, Climate Change Bill and More

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Since Jan. 6's attempted coup at the Capitol a lot has happened in Washington DC, and at our state capital. Our Congressional representatives impeached the president, and our local state officials fought for a climate change bill vetoed by the governor. This is the last week in social media. Both of Jamaica Plain's Congressional Representatives Ayanna Pressley and Stephen Lynch voted to impeach President Trump for inciting insurrection.

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