US Congress discusses initial currency support operations (ICOs) and regulation of digital currencies

I think this is probably welcome, not goodbye. " MP Bill Hozenga (RMI), who adjourns Wednesday's House hearing on capital markets, securities and investment, which is dedicated to discussing digital currencies and initial currency support operations, said if the current regulatory framework protects investors Enough.

Huzenga spoke to a group of academics and representatives of the digital currency industry who testified before the subcommittee, indicating in large part that regulators should clarify the legal status of digital assets in order to help entrepreneurs innovate while remaining in compliance with federal laws.

As in the last House hearing on digital currency regulation, he told policymakers divergent views on the value of digital currencies and blockbuster technology. Some members of the Commission incited digital currency, claiming to be linked to terrorism. For example, Representative Brad Sherman (D-CA), for example, the digital currency of the "failure" and expressed doubts that it will be used to achieve any social good can not be achieved in another way.

"Maybe we'll have another hearing after a big digital terrorist event is funded," he said jokingly. "Digital currencies - anywhere else - are famous among men who prefer to sit in bed and tell their wives they will be millionaires "He said.

Others, however, praised the "ICOs" and the developments of the Balkan-related financial technology, while cautioning that hasty or arrogant regulation could threaten the country's status as a leader of financial technology. "Regulation in this space is something that the United States should do in a proper way, because the weak or hasty policy of digital currencies really threatens our financial and technological reputation," said Rep. Ted-Rudd.

Similarly, Representative Tom Emmer (R-MN) - a member of the Blocheen Caucus of the Congressional Congress - criticized the digital-politicians for inviting them to new organizations without taking the time to seek and develop enough understanding of the technology.

Emir commented:
"I hear elected officials have no idea what we're dealing with and how exciting it is. We have had to intervene, organize and create more government infrastructure, "he said." Although simple digital currency regulations are needed, access to capital provided by currency support operations is something to be celebrated by Democrats and Republicans "

However, in general - as Huzinga observed when the session was adjourned - the service of this hearing is largely a means of introducing decision makers into the organizational and operational climate in the nascent digital asset space, particularly with regard to ICOs. One has to make sure that this is not the last time Congress will find itself discussing the regulation of digital currencies.