Financial illiteracy is a perennial problem in America that spans socioeconomic status and race. In the 21st century, financial education should be considered incomplete if digital assets are omitted from initiatives, grants, and syllabi. Especially given that communities of color, the working class, and young people are some of the earliest and largest holders of cryptocurrencies.
April is National Financial Literacy Month, which is observed by most regulators that oversee digital assets. The emerging innovation economy should ensure that governments adopt new approaches to financial education to better prepare their citizens for the future of money and commerce.
Let's take a look at what's planned in Washington.
agency meeting
The Financial Literacy and Education Committee is based in the Treasury Department's Bureau of Consumer Policy and serves as the federal government's focal point each April. It is made up of 24 agencies, including the Consumer Financial Protection Bureau, the Commodity Futures Trading Commission, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, and the White House Domestic Policy Council. In 2022, the commission created a subgroup on digital asset financial education.
FLEC's next public meeting will be held on April 10th at 1:00 PM ET.
congress exposition
This issue is also a priority for the Legislature.
U.S. Representatives Joyce Beatty (OH-3) and Young Kim (CA-40) launched the Financial Literacy and Wealth Creation Caucus last year, with financial decentralization among its themes. Ta. The bipartisan group will host a resource fair on April 18 to commemorate the annual milestone. But the co-chairs have been working on this issue for just over a month. A recent POLITICO event in March described financial literacy as follows:
“It transcends any politics,” Rep. Kim said. “Every American should be financially aware so they can better control their future and realize the American Dream.”
“It starts with reorienting and thinking about how people can learn and be educated about financial literacy,” said Congressman Beatty. “It’s not just about saving money or investing money.”
Web3 Education
Advocacy groups across the country are also planning activities. And Web3 and his DeFi companies are injecting digital assets into the financial literacy narrative.
HederaHBAR launches regional event Educational learning briefing series Focus on Responsible Innovation on Capitol Hill on April 30th. This includes a local forum in Columbus, Ohio. Anaheim, California. and Boston, Massachusetts.
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Disclosure: Blockchain Foundation partners with Hedera on educational briefing series