Next week, cryptocurrency will once again become the focus of Capitol Hill.
The U.S. House of Representatives Financial Services Committee announced on Thursday that a hearing entitled “The Future of Money: Digital Currency” will be held on July 18 (Wednesday).
The committee is headed by the chairman, Jeb Hensarling, who has not yet published a full list of participants, which will be broadcast live on their website.
At past hearings, the committee saw members of Congress discussing cryptocurrencies through terrorist financing and fraudulent investments.
But the theme of the hearing next week seems to be more inclined to discuss the use of cryptocurrency as a currency.
Because of the growing interest in cryptocurrencies, cryptocurrencies may become a useful currency tool for governments, especially central banks, and this hearing can be justified. The Bank of International Settlements has long been known as the central bank of central banks. In March of this year, it pointed out that cryptocurrencies supported by central banks can actually accelerate the operation of banks during periods of financial instability.
Other countries, including Canada, Finland, and South Korea, have also weighed this issue, but countries have mixed opinions.