The development of cryptocurrency has always been a hot topic. The discussion of blockchain technology and cryptocurrency around the world has become increasingly fierce. In particular, the US Congress has talked about cryptocurrency three times. First summarize the results of the most recent meeting as follows:
Meeting time: July 18, 2018
1. Fed Chairman Powell: The cryptocurrency should be regulated, but not regulated by the Federal Reserve.
2. Former CFTC Chairman Gary Gensle: I hope to see the success of cryptocurrency technology.
3. Mike Conaway, Chairman of the US House of Representatives Agriculture Committee: Congress or regulators may consider developing a new regulatory framework for cryptocurrency.
4. US CFTC official Daniel Gorfine: seeking to increase investment in regulatory digital currency, with an estimated investment of $281 million. Congress should be cautious about digital currency regulations.
5. US Congressman Andy Barr: Worried that if the central bank has the ability to issue cryptocurrencies, it will be able to replace the dollar. I believe that Congress will once again review the topic of cryptocurrency.
6. US Congressman Brad Sherman: Americans should be banned from buying or mining cryptocurrencies.
7. Andreessen Horowitz Managing Partner: Token issuance should be subject to similar supervision as an investment contract.
8. Rodney J. Garratt, Professor of Economics at the University of California: The cryptocurrency does not explicitly increase the likelihood of morphological behavior.
9. Director of the Heritage Analysis Center of the Heritage Foundation: The way Bitcoin is built has a lot to do with its volatility. It should not be used by criminals to determine that Bitcoin is illegal.
10. Eswar S. Prasad, Senior Research Fellow at the Brookings Institution: Encryption technology makes transaction payments easier and reduces costs.
11. Alov Baldet, CEO of Clovyr: The cryptocurrency can be a bridge for people in trouble.
Current ethereum to usd exchange: 464.36USD (US East Time: July 20, 2018 01:15)
The three US hearings on blockchain and virtual currency are organized by subcommittees of Congress:
The first virtual currency hearing in the United States was organized by the US Senate Bank, Housing and Urban Affairs Committee, with the theme "Virtual Currency: The Supervisory Role of the SEC and the CFTC," attended by the SEC and the CFTC Chair.
The second hearing, organized by the US House of Representatives, was attended by two subcommittees of the US Science, Space and Technology Committee. The theme of the hearing was “Beyond Bitcoin: Emerging Applications of Blockchain Technology”.
Current neo to usd price is: 464.36USD (Eastern Time: July 20, 2018 01:15)
The third hearing was held by the US House Financial Services Committee. As in the previous two meetings, the participants only expressed their opinions and discussed them. No conclusions will be reached.
However, the views expressed by representatives of parties, legal circles, regulatory agencies, and research scholars in the virtual currency industry have contributed to the introduction of policies. The chairman of the hearing, Huizenga, is also chairman of the Capital Markets Subcommittee of the US House Financial Services Committee. He believes that virtual currency is not gold and not a commodity, and that Congressman Brad Sherman said that virtual currency is a scam and may represent a kind of financial regulator. attitude. At the hearing, other participants at least presented the direction before the introduction of the regulatory policy:
First, you need to determine the properties of the virtual currency. Is it a commodity? Is it an asset? Still a securities? Once the attributes are determined, it is clear who will supervise them; and deep into the virtual currency ecosystem, such as the key content disclosure of the white paper, to achieve high definition of regulation;
Then we will discuss the use of existing laws, or introduce new regulations for the implementation of specific laws on virtual currency;
Finally, a regulatory agency or some organizations are designated to clearly define their responsibilities and process divisions in order to better and faster monitor virtual currency.
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