What to Know About the Crypto Regulation Bills
Ask students: What are cryptocurrencies? Why are "stablecoins" considered "the least risky digital assets," according to Desjardins?
NOTE: If you are short on time, watch the video and complete this bell ringer activity: What did you notice? What did the story make you think about? What would you want to learn more about?
Congress is moving toward passing a series of bills that would be the first to regulate the crypto industry. The GENIUS Act regulates stablecoins while the Clarity Act regulates digital currency overall, splitting oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
View the transcript of the story.
Discussion Questions
- What are cryptocurrencies?
- Why are "stablecoins" considered "the least risky digital assets," according to Desjardins?
- Who are the two people interviewed in this video, and what are their backgrounds?
- Which act did Patrick McHenry help write during his time in Congress?
- How do the two guests disagree regarding crypto regulation?
Focus Questions
- What are the benefits and risks of having cryptocurrencies in our society?
- Do you think the benefits outweigh the risks? Why or why not?
- Hilary Allen notes that most “Americans do not own crypto” and have a “vastly unfavorable opinion of crypto.” Do you think this attitude among Americans will change over time or remain the same? Explain your answer.
- Media literacy: How does the way cryptocurrencies are described change depending on who is reporting the story? Why is it important to consider the source when learning about cryptocurrencies?
Extension: Cryptocurrency Debate Simulation
Imagine you are about to debate someone on the topic of cryptocurrency. Choose a side: either for cryptocurrency or against cryptocurrency. It does not matter which side you choose. The purpose of this exercise is not to pick a side but rather to help you understand both sides and build important research skills, including the ability to support your arguments with evidence.
Create a document that includes the following:
- Three strong arguments supporting your chosen side.
- Three possible arguments the opposing side might use against your position.
- Your responses or counterarguments to each of the opposing side's arguments you identified.
- A few sentences explaining why it is important to understand both sides of this debate.
Note: You must use facts and statistics from credible sources to back up your arguments.
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Republished with permission from PBS News Hour Classroom.
PBS News Hour Classroom helps teachers and students identify the who, what, where and why-it-matters of the major national and international news stories. The site combines the best of News Hour's reliable, trustworthy news program with lesson plans developed specifically for... See More
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