US Congress called crypto "The Future of Money ?

Cryptocurrency and Bitcoin in particular have now become a step closer to another portion of their regulation in the US, a more and more positive one, as the House of Representatives will be holding a key hearing on crypto on Capitol Hill on July 18th.

The House boldly labeled the hearing “The Future of Money: Digital Currency” - a title presumably giving crypto a large boost.

A list of the ones included in the hearing is to be announced by the Congress.

Congress has already released an economic report showing their trust in cryptocurrency in March. With an entire chapter dwelling on crypto, the report calls blockchain "a new internet", and predicts the crypto's victory over fiat.

The grounds for such a preference of crypto over fiat is about the supply of the digital currencies being preprogrammed as unchangeable, with only 21 million BTC to be ever issued, and only 100 million ETH.

The report pities the fact that people "may miss the blockchain revolution" as plenty of negative headlines undermines people's trust in Blockchain, while Blockchain offers "a decentralized, secure, and efficient way to store almost any form of data across multiple platforms".

Lawmakers, officers and employees of the House of Representatives have also recently been obliged to make their crypto investments over $1000 public.

Image source:https://pixabay.com/
Follow me :@ehsanwatu