ICO goes to Washington: Congress discusses cryptocurrencies. What can you expect? ChainB.com

nCommentary on the Outburst: On Wednesday, a subcommittee of the US House of Representatives’ Financial Services Committee held a hearing entitled “Examining the cryptocurrency and the ICO market.” The cryptocurrency returned to the US Capitol Hill and became a focus again. According to the information previously disclosed, the hearing has a certain degree of educational significance and is closer to the basic level of the industry, and mainly focuses on the topic of supervision. At present, the hearing ended early this morning.n
nTranslation: Clovern
On Wednesday, the cryptocurrency returned to Capitol Hill.n
On March 14, a subcommittee of the United States House of Representatives’ Financial Services Committee will hold a hearing entitled “Examining the cryptocurrency and ICO market”. The hearing marked the first time that the internal group of the National Assembly held a special meeting to resolve the issue of the first digital token issuing (ICO). This area is also the focus of the regulatory agencies of the United States Securities and Exchange Commission (SEC) and other countries.n
Statements made by some members of the Sub-Committee on Capital Markets, Securities and Investments indicated that the hearings are largely educational. In an interview with CoinDesk last week, US House Representative Tom Emmer said that some of the participants will learn more about cryptocurrency and token sales at the hearing.n
Tom Emmer said in an interview during the DC Blockchain Summit held in Washington last week:n
n”I think this hearing will be closer to the basic level. I don’t think they understand the depth or breadth of this industry yet.”n
nOther comments also mentioned Emmer’s strong desire to discuss this issue. In a statement, Rep. Randy Hultgren also expressed his desire to discuss ICO-related investor protection issues.n
He said:n
n“I look forward to discussing how cryptocurrencies can open up new opportunities for our financial markets. To be exact, I discuss investor balances on how to balance credit capabilities with the so-called first digital token issuance (ICO). The topic of the relationship is very interesting.”n
nA previous list of witnesses undoubtedly strengthened the information of the hearing. Attending witnesses included: Dr. Chris Brummer, Professor of Law, Georgetown University; Mike Lempres, Chief Legal and Risk Officer, Coinbase; Peter Van Valkenburgh, Head of Research, Coin Center, Nonprofit Initiative; and Wilson Sonsini Goodrich

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