U.S. House Financial Services Committee Will Discuss if Cryptocurrencies are ‘The Future of Money’ Next Week

The U.S. House of Representatives Financial Services Committee announced today, July 12th, that it will be hosting a hearing titled “The Future of Money: Digital Currency” next Wednesday, July 18th.

This latest hearing comes in the wake of a wave of cryptocurrency legislation being passed globally by countries like Canada, India, South Korea, and Finland. Furthermore, with U.S.-based company’s like Coinbase expanding their reach into mainstream financial markets, this congressional hearing will hopefully provide a great deal of insight into where the United States Federal Government stands in regards to cryptocurrencies.

The committee will be headed by Chairman Jeb Hensarling and will include a number of witnesses who have yet to be disclosed to the public. The event will be streamed live on the US Financial Services website.

Generally speaking, the United States Federal Government appears to be warming up to cryptocurrency. However, this will be the first official government hearing discussing the topic since investigations into terrorist financing and fraudulent investments were covered in June of 2017 and March 2018 respectively (per CoinDesk).

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