US Congress to host a hearing on digital currencies in March
|- US Congress will hold a hearing on digital assets on March 24.
- Details about the hearing, including witnesses or areas of potential inquiry, have not been disclosed.
- It’s speculated that Facebook’s Libra could be up for discussion.
According to a notice published on February 21, The US House Committee on Financial Services Subcommittee on National Security, International Development, and Monetary Policy will be hosting a hearing on "A Review of Domestic and International Approaches to Digital Currencies" on March 24. Rep. Emanuel chairs the sub-committee.
Details about the hearing, including witnesses or areas of potential inquiry, have not been disclosed. Upcoming Facebook-backed stablecoin Libra could be up for discussion given the concerns raised by the committee chairwoman Rep. Maxine Waters regarding Libra. Waters had called on Facebook to pause the work on Libra in the wake of its launch.
Other members of Congress have raised questions about Libra as well. While speaking to the Senate Banking Committee in 2019, the US Fed chairman Jerome Powell had expressed his doubt about the feasibility of launching the coin. Powell had earlier stated:
I just think it cannot go forward without there being broad satisfaction with the way the company has addressed money laundering.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.