US Senate Conducting Live Hearing To Examine Regulatory Frameworks on Blockchain & Digital Assets

The United States Banking, Housing, and Urban State Affairs Legislative Committee have decided to come live and present a hearing that would be focused on blockchain and digital assets regulatory frameworks next week. The committee has officially announced the recent update via its website.

As per the data, the hearing is titled as “Examining Regulatory Frameworks for Digital Currencies and Blockchain” which is proposed to take place on Tuesday, July 30, 2019, at 10:00 AM, Dirksen Senate Office Building 538.

The website has also mentioned the names of the proposed witnesses who would meet in the open session to conduct one of the most crucial subject lines focusing on digital assets and blockchain space.

The live hearing includes one of the experts from cryptocurrency space, a professional from trade and finance vertical, and a famous law professor. The names are: 

“Mr. Jeremy Allaire, Co-Founder, Chairman and Chief Executive Officer, Circle, on behalf of The Blockchain Association; Ms. Rebecca M. Nelson, Specialist in International Trade and Finance, Congressional Research Service (a public policy research arm or a congress Think Tank of the United States); and Ms. Mehrsa Baradaran, Professor of Law, University of California, Irvine School of Law and the author of a famous book “How the Other Half Banks,”

The website outlined. 

US Regulators Consider Cryptocurrency A Hot Topic To Converse After Facebook’s Libra Testimony

KoinPost earlier informed about the controversial hearingof Facebook’s Stable coin Libra project which took place on July 16, entitled, “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations.” The hearing revealed the concerns of the U.S. lawmakers and overseers over the impending impact of Facebook’s Libra project on consumer, investors, and the American financial system. The hearing also brought out 5 important points which signified the serious apprehensions from the lawmakers. The Cambridge Analytica Case related to data security was one among them.

Libra project which took place on July 16, entitled, “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations.” The hearing revealed the concerns of the U.S. lawmakers and overseers over the impending impact of Facebook’s Libra project on consumer, investors, and the American financial system. The hearing also brought out 5 important points which signified the serious apprehensions from the lawmakers. The Cambridge Analytica Case related to data security was one among them.

During the hearing, Mr. David A. Marcus, Head of Calibra, Facebook encountered cross-examination by the United States Senate Committee members on the matters concerning trust, security, privacy, and regulatory compliances, which he further put his standpoint and tried to justify the impact of Libra. 

The forthcoming hearing on the regulatory frameworks dedicated to “blockchain & digital assets” would able to bring out the important areas of concerns that can help the policymakers to come out with a respectable decision. 

KoinPost shall soon update the readers with the upcoming response from the US Senate Committee on Digital Asset & Blockchain. Till then be curious and educated!

Image by Daniel Bone from Pixabay

Tags: Bitcoin Regulations News, Cryptocurrencies, Libra, Digital Assets, Facebook, Congress, United States, Government, Banks, Cirlce, Policy Makers, Cambridge Analytica Case