US Senate To Debate on Crypto & Blockchain Regulatory Frameworks

US Senate To Debate on Crypto & Blockchain Regulatory Frameworks

The United States Senate Banking Committee will be holding a bigger debate on crypto and blockchain regulatory frameworks next week.

It was officially announced by the committee and the announcement indicates that the hearing which has been dubbed “Examining Regulatory Frameworks for Digital Currencies and Blockchain” will take place on July 30th.

The witnesses will be Jeremy Allaire, co-founder and CEO of payments company Circle, who will speak on behalf of The Blockchain Association; Rebecca M. Nelson, a specialist in International Trade and Finance at “Congress’s think tank,” the Congressional Research Service; and Professor of Law Mehrsa Baradaran, from the Irvine School of Law at the University of California.

The hearing is scheduled for 10 a.m. EST and will be broadcast live.

The hearing follows proceedings before congressional committees on Facebook’s Libra earlier this month.  After the Banking Committee Hearing, Chairman Mike Crapo and Member Sherrod Brown shared additional insights into their concerns. Crapo said:

“We’ve got to look at how we structure data protection in the United States […] We need to move to a comprehensive approach. What that structure exactly is, I can’t tell you.”

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