The mayor has been an enthusiastic proponent of MiamiCoin, a privately-owned cryptocurrency.
The ability to coordinate outside of government control could be a massive boon for oppressed or dissident groups.
Some crypto skeptics say that regulating the digital coin is a mistake since it would provide legitimacy to the industry.
Toomey advocated instituting consumer protections and disclosure requirements in the crypto industry.
CFTC Chairman Rostin Behnam called on Congress to institute robust disclosure regimes and barriers against conflicts of interest.
"The main benefit...of a payment stablecoin is the ability to offer cost-effective, real-time, around-the-clock retail and business payments.'
The reports will discuss digital asset implications on national security, financial inclusion, privacy and citizens.
Blockchain will be commonplace in the economy 'within the decade,' the IBM executive said.
'Our guiding principle at the CFTC must be to stop fraud or harmful conduct that harms our markets.'
NFT ticketing also enables a safer, fairer secondary market.
Panelists discussed the benefits of a digital currency backed by the Federal Reserve.
'A lot of regulatory gaps exist because we have two regulators.'
Experts expressed concern about the U.S. falling behind China on the development of a central bank digital currency.
'The Fed seems a little bit more uncertain about' digital currency versus other nations, another panelist said Tuesday.
Scholars debate stablecoins as their use increases.
Though regulators may want to regulate cryptocurrency to protect consumers, experts argued that overdoing it could impact innovation.
Bringing back transaction costs for messages or phone calls may be a way to deter spam messages.
Regional crackdowns raise questions about the stability of cryptocurrencies.
Christopher Giancarlo said U.S. falling behind China on new wave of innovation, driven by blockchain and cryptocurrencies.
China is believed to be creating a central digital currency soon, as the U.S. lacks policy governing cryptocurrency.
The registration comes after the company rebranded to Meta, taking it beyond its social media origins.
