US Senate Banking Committee to hold cryptocurrency hearing in late July

Posted 24 July, 2019

The US Senate Banking Committee will hold a meeting at which aspects of the regulation of the crypto industry and the blockchain industry will be discussed. The hearing is scheduled for July 30. The announcement was made on the official website of the Committee.

The notice emphasizes that the issue will be discussed in an open format, and the official theme sounds like "Examining Regulatory Frameworks for Digital Currencies and Blockchain."

At the same time, there is no information on whether congressmen plan to consider any specific draft law or initiative, or to identify possible algorithms for regulating cryptocurrencies at all. 

Notably, the meeting will be held just in about two weeks after the recent hearings for the Libra project in the US Congress, during which the head of the Facebook blockchain division, David Marcus tried to prove Libra's right to exist on the Calibra blockchain payment system, albeit very unconvincing.

Besides, Circle CEO Jeremy Aller representing the Blockchain Association will also take part in the hearing.

Some market players believe, future hearings may have a negative pressure on the cryptocurrency market, which is currently unstable.

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24 July, 2019 15:44

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