By next week, there will be a hearing on regulatory frameworks for all cryptocurrencies and blockchain by the Senate Banking Committee.
The committee said In a press release report, the committee would hold an open session on July 30th titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain”, it is yet not clear if any of the legislation issues will be deliberated or if this would be a fact-finding mission
Representing the Blockchain Association, the Circle CEO Jeremy Allaire, Rebecca Nelson, a member of the Congressional Research Service , who specializes in international trade and finance and Mehrsa Baradaran, a professor of law at the University of California Irvine School of Law will give as expert witnesses. The hearing will be livestreamed
A lot of hearings around world has been going on with the Senate Banking Committee with the most recent one which took place last week was focused on Facebook’s Libra.
The Facebook project was the order of the day as members asked many questions to David Marcus, the head of Facebook’s project and the CEO of its Calibra subsidiary, a number of pointed out questions about the project, but rarely brought up bitcoin or other cryptocurrencies.
Rather, Senators took pains to distinguish between the broader crypto ecosystem and Facebook’s efforts specifically, expressing with all indications that they may better understand the technology and the asset class than they have in some years ago
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