Rajarshi Mitra
Independent Analyst
- 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.
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