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US Congress will discuss ICOs next week

A subcommittee of the U.S. House of Representatives Financial Services Committee intends to hold a hearing next week on cryptocurrencies and initial coin offerings (ICO).

09.Mar.18 2:24 AM
By Daria Zaytseva


US Congress will discuss ICOs next week

A notice posted on the committee's website states that the hearings of the the Capital Markets, Securities, and Investment Subcommittee, entitled "Examining the Cryptocurrencies and ICO Markets", is scheduled for March 14 at 10:00 am Eastern Standard Time.

U.S. Representative Tom Emmer, a member of the subcommittee, suggested that the hearing would primarily be an educational medium aimed at providing members with more detailed information about the market for cryptocurrencies and the sale of tokens.

He also pointed out that among the members of the Financial Services Committee there is a growing interest in more detailed acquaintance with the subject and consequences of using technologies in such areas as remittances.

The hearing is the last exit of Congress into the world of cryptocurrencies, and coming more than a month after the Senate Committee on Banking, Housing and Urban Affairs held a serious hearing on the topic, which included the testimony of the chairman of Securities and Exchange Commission (SEC), James Clayton and Commodity Futures Trading Commission (CFTC) chairman J. Christopher Giancarlo. At this hearing, in particular, they indicated that their respective agencies could eventually seek additional supervisory powers over the market.

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