NOTE: Short on time? Watch the featured video and reflect using these prompts: What stood out to you? What thoughts did this news piece spark? What would you like to explore further?
IN A NUTSHELL
Lawmakers in Congress are progressing toward the enactment of several pieces of legislation, marking a potential turning point as the first attempts to officially regulate the digital currency landscape. The proposed GENIUS Act is designed to provide a regulatory framework for stablecoins. Simultaneously, the Clarity Act seeks to establish guidelines for the broader digital currency market, dividing regulatory responsibilities between financial oversight bodies, specifically the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Read the transcript of the segment.
Explore further: Browse recent episodes from the News Hour and choose a segment that piques your interest. You can download a Google Doc with adaptable discussion questions suitable for any chosen segment.
THINK ABOUT IT
- Define cryptocurrencies.
- Why does Desjardins consider “stablecoins” to be among “the safest digital assets?”
- Identify the two individuals interviewed in the video and describe their professional backgrounds.
- Name the legislation that Patrick McHenry played a role in drafting during his time in Congress.
- How do the viewpoints of the two interviewed guests differ concerning the necessity of cryptocurrency regulation?
DEEPER DIVE
- What are the potential advantages and disadvantages of cryptocurrencies within our society?
- In your opinion, do the benefits of cryptocurrencies outweigh their associated risks? Elaborate on your reasoning.
- Hilary Allen observes that the majority of “Americans do not possess crypto assets” and hold a “generally negative perspective of crypto.” Do you anticipate this public sentiment toward cryptocurrencies evolving over time, or remaining consistent? Justify your response.
Media literacy: How does the presentation of cryptocurrencies change depending on the news source? Why is evaluating the source of information crucial when learning about cryptocurrencies?
GET INVOLVED
Cryptocurrency Debate Challenge
Your Task: Prepare for a debate on the topic of cryptocurrency. Choose a position, either supporting or opposing cryptocurrency. The focus is not on personal preference, but on developing a comprehensive understanding of both perspectives and strengthening research abilities, with an emphasis on evidence-based arguments.
Create a document containing:
- Three well-supported arguments in favor of your chosen stance.
- Three potential counter-arguments that the opposing side might raise against your position.
- Your responses or rebuttals to each of the opposing side’s arguments that you’ve identified.
- A short paragraph explaining the importance of understanding both sides of this ongoing debate.
Remember to use credible sources and factual data to support all claims.
Created by Brooke Ingemi, PBS News Hour Classroom Intern and Amherst College Senior, and News Hour’s Luke Gerwe.
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