The future of cryptocurrency in the United States will be decided today: What to expect from a Congress meeting on July 18

The future of cryptocurrency in the United States will be decided today: What to expect from a Congress meeting on July 18

Wednesday, July 18, two committees of the U.S. house of representatives conducted a session on “Digital currency: the future of money” to consider the prospects of cryptocurrency from two different points of view. American lawmakers discuss cryptocurrencies and their importance in the global financial system.

The Committee on agriculture sacredotal on the question of the emergence of “digital assets”, while the Subcommittee of the financial policy explains “the degree to which the United States government should consider the cryptocurrency as money.”

At the meeting, feature some of the most respected economic experts, including:

  • Professor of Economics, University of California, Rodney garret.
  • Director of the analytical center Norbet Michel.
  • Senior research fellow at the Brookings institution Eswar Prasad.
  • Senior research fellow, R Street Institute, Alex Pollock.

“This hearing will shed light on the future of digital assets and regulatory challenges facing this new asset class. Our Committee takes a deep interest in promoting strong markets for goods of all types, including new technologies,” said Texas Republican Michael Conaway investigating the alleged manipulation of presidential elections of the Russian special services.

Hearing of the Subcommittee financial policy, it seems, is considering a more global question — what is cryptocurrency. According to the note that detailed the purpose of the hearing, members “appreciate the merits of any applications by the Central banks digital money and discuss the future of cryptocurrency and Fiat money.”

At the moment none of the members of the Committee, contacted journalists, had not replied to requests for comment, leaving the question about the mood around the open.

This session of Congress is of great importance for the cryptocurrency industry as it discusses the legal status of virtual currencies and the necessary regulatory measures.

The United States government is trying to develop optimal ways to integrate traditional token economy and to solve the existing problems. The decision of Congress will affect the value of crypto-currencies, so traders all over the world are waiting for the results of the meeting with bated breath.

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