American Open Currency Standard American Open Currency Standard American Open Currency Standard (AOCS) is a non-profit organization opposed to fiat money and wishing to expedite the use of metal as money. In accordance with its mission, AOCS grants approval to new currencies, helps new currency issuers to establish brand identity, and encourages merchants to accept AOCS-approved currencies. AOCS was started in 2007 by Robert Gray, who was formerly a Regional Currency Office for Liberty Dollar and is currently the Executive Director of AOCS. Robert Gray testified before the United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology when congressman Ron Paul
Virtual currency law in the United States increase". In its 2009 Report to Congress, the U.S. Treasury claimed that the dollar will continue to be a major reserve currency "as long as the United States maintains sound macroeconomic policies and deep, liquid, and open financial markets". According to former CIA CTO Gus Hunt, the "Government's going to learn from Bitcoin, and all the official government currencies are going to become crypto currencies themselves". Under 12 U.S. Code § 411, the Federal Reserve has the authority to issue Federal Reserve notes, and under 12 U.S.C.A. § 418, the Treasury Department "in order to furnish suitable notes for circulation...shall