The cost of motherhood
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 14 August 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
August 15th is this year’s Mothers’ Equal Pay Day, which marks how far into 2023 moms had to work to catch up to what dads made in 2022. Black, Latina and Native women would have to work even longer. What could close the gap? But before that, we’ll look at stablecoin regulation and the Afghani women’s national soccer team.
Transcript
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| 0:00.0 | A payment revolution without rules from Marketplace. |
| 0:06.0 | I'm Nancy Marshall-Genzer in for David von Kachio. |
| 0:09.0 | It's been a week since PayPal announced it was launching a stablecoin called PayPal |
| 0:14.0 | USD. |
| 0:15.0 | Stablecoins are a kind of cryptocurrency that are supposed to be backed by a particular asset. |
| 0:20.3 | In the case of PayPal, the US dollar. |
| 0:22.5 | They can act as a kind of bridge between cryptocurrencies and money issued by governments. |
| 0:27.6 | Some people believe stablecoins could revolutionize payment technology, but there are no rules |
| 0:32.7 | in the US specifically for stablecoins yet Marketplace's Stephanie Hughes has more. |
| 0:38.7 | There's north of a hundred billion dollars held in stablecoins globally. |
| 0:42.8 | And without regulation, those assets aren't legally protected in the US if, say, a business |
| 0:47.7 | holding them goes under. |
| 0:49.5 | You could have a situation where you have a run on a stablecoin. |
| 0:53.8 | Timothy Massid, a former chair of the Commodity Futures Trading Commission, is advising PayPal |
| 0:58.8 | on its new stablecoin. |
| 1:00.8 | He says that creating a regulatory framework could deal with this kind of insolvency and |
| 1:05.6 | encourage more of the private sector to experiment. |
| 1:08.8 | Our system is actually relatively slow and expensive and these new digital technologies |
| 1:14.6 | represent a potential advance. |
| 1:17.2 | Congress is considering various bills. |
| 1:19.3 | The Treasury Department has been researching rules too. |
| 1:22.2 | When Morton's Kevin Werbach says PayPal's move could hurry everyone along. |
... |
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