US Senate Plans Hearing to Scrutinize Future of Bitcoin and Crypto

United States senators plan to dive into crypto during a committee hearing on digital currencies and blockchain next week.

The Committee on Banking, Housing and Urban Affairs has scheduled an open session hearing titled  “Examining Regulatory Frameworks for Digital Currencies and Blockchain” for Tuesday, July 30, according to a Senate press release.

Jeremy Allaire, the co-founder, chairman and CEO of peer-to-peer payments fintech company Circle, plans to testify on behalf of the Blockchain Association.

Rebecca M. Nelson, a specialist in international trade and finance for the Congressional Research Service, and Mehrsa Baradaran, a professor of law at the University of California Irvine School of Law, are also scheduled to testify. Baradaran has extensive expertise in banking law.

It follows two congressional hearings on Facebook’s controversial Libra project held earlier this month, which also featured discussions on crypto.

The hearing will be webcast live and is scheduled to begin at 10:00 a.m. EST.

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