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Author: Marcus Sotiriou, Analyst, British Digital Asset Broker Global block
After the US House of Representatives Financial Services Committee held a hearing yesterday, Bitcoin failed to stay at the level of $50,000, and today it is at around $47,585. Executives from six major cryptocurrency companies including Coinbase and Circle, Provided a crash course on cryptocurrency to Congress And urge them to provide clearer information for the encryption industry.
Well-known cryptocurrency players call for careful and customized rules not to force overseas operations because they are too strict. The CEO of Coinbase said: “If there is no tailored legislative solution that is publicly debated with public participation, the United States will face the risk of unnecessary onerous and chilling laws and regulations.” I think legislators and executives Meeting to discuss how to regulate the industry is promising. I hope that the regulation will be clear in the next few years to help the industry expand without compromising innovation.
Goldman Sachs CEO David Solomon said that he believes that the underlying blockchain technology is more important than Bitcoin itself. Solomon said that he believes in the damage caused by these technologies. He said, “The key is how blockchain or other untapped technologies can accelerate the digitization of financial service delivery methods.” This is why Goldman Sachs has implemented a service application to try to incorporate encryption.
This will not be the last meeting on the subject. Cryptocurrency is back on the Congressional agenda next week.The Democratic Chairman of the Senate Banking Committee, Ohio Senator Sherrod Brown has called a hearing Stablecoins,This seems to be a hot topic.
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