U.S. Financial Lawmakers Schedule Hearing Next Week to Debate Crypto’s Future within the Financial Sphere
Capitol Hill announces that the topic of digital currency will yet again become a main focus during the following week.An announcement by the American HRFS Committee released Thursday, stated that a July 18 hearing is cheduled to discuss digital currencies and its value in the financial market.
According to reports by CoinDesk, The committee chairman Jeb Hensarling has not released an official list of attendees however confirmed the HRFSC website will offer a livestream of the upcoming event.
CoinDesk also noted that previous hearings held by the organisation have facilitated much discussion over the risks associated with cryptocurrencies including fraud and terrorist funding operations.
However, given the optimistic title associated with the upcoming hearing, topics are expected to cover debates concerning the use of digital currencies as a mainstream asset.
Due to the fast growing global interest in virtual currencies and it’s success thus far as a monetary value for both commercial and government use, the committee’s spotlight on cryptos is becoming an increasingly heated debate.
According to a statement released in March by the Bank of International Settlements, the option of cryptocurrency presents central banks with an opportunity to facilitate speedier transactions throughout phases of instability.
Beyond U.S. borders, other nations such as South Korea, Canada as well as Finland have also reviewed the matter in detail resulting in clashing arguments from industry officials.