The US Congress discusses the ICO and regulation of the Crypto-currency

March 16, 2018

On Wednesday, a meeting was held at which all the time was devoted to the discussion of the crypto currency, ICO and whether the current regulatory framework in the US adequately protects investors.

Member of Parliament Bill Huzenga talked with a group of academics and the crypto-currency industry, who basically argued that regulators need to clarify the legal status of the crypto currency in order to help entrepreneurs innovate, while remaining within the framework of federal rules.

Statements by participants

As well as in the Senate's recent hearing on the regulation of crypto-currencies, lawmakers have passed various opinions on the value of the crypto-currency and Blockchain technology.

Some members of the committee have caught the alleged link between the digital currency and terrorism. Member of the Chamber Brad Sherman, called the crypto currency "clay jug" and expressed doubt that they can be used to achieve any social benefits.

Others, however, lauded the ICO and other projects related to Blockchain, while warning that hasty or too harsh rules could threaten the status of the country as a leader on the FinTech market.

"Regulation in this space is what the US should do right, because politicians who do not understand crypto currency really threaten our reputation in the field of FinTech", – said businessman and politician Ted Budd.

Author: Andrey, analyst Freedman Club Crypto News

Image from Fotolia

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