Congress Virtual Currency Meeting – SEC & CFTC Embracing Bitcoin! Cryptocurrency Regulation News

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The US Senate Committee on Banking met today with the Chairman of the SEC and CFTC to discuss virtual currencies and regulation. They talked a lot about the current environment surrounding virtual currencies, specifically ICOs and what they are planning on doing about it. The overall sentiment was surprisingly bullish on cryptocurrencies though!

Cryptocurrency regulation will come, the only question is; How will it play out?

To the moon!

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Congress Virtual Currency Meeting – SEC & CFTC Embracing Bitcoin! Cryptocurrency Regulation News

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7 comments

  1. I think the regulations are going to be helpful but they will certainly also get in the way of the free market growing our economy. I was new in crypto very very recently. I was so lost. I still am with most of these projects. But I at least know to search to ty to find out what they’re doing. There’s nothing but hype everywhere, mostly. I haven’t bought Cardano (ADA) yet because it all sounds like vaporware to me. After Shelly rolls out, maybe I’ll reconsider. Everyone just says Hutchinson is awesome but that’s the opposite of the point of cryptocurrencies. We’re seeing that with ETH. And I didn’t like that Hutchinson made fun of Buterin. If one person has a big enough influence on a coin, I’ll hold him accountable by assuming the entire project is as brash and insensitive as he is.

    But I do think a little regulation will help immensely. At least make people know that you can’t just take a million dollars after drafting a white paper and do nothing then keep the money. More accountability is needed. I also don’t want puffery laws to protect groups of people from saying their coin will be the best. You can say, “this is the fastest car on the road,” even if it’s not. Outrageous claims don’t carry liability in America. The regulators should lightly assist crypto enthusiasts in keeping project managers and financiers honest and accountable.

    But if something is a scam, Reddit is pretty good about saying so on someone’s thread.

    Hopefully this will bring more mainstream-media-watching people into what’s been called the dark web. People are too used to being censored and babies. Hopefully we’re breaking away from that and moving into a dangerous, more interesting future. People hate to learn. And until they mostly die, we are kind of stuck with their old ways and terrible, centralized systems of power and corruption.

    We’re getting there🤞🙏🏻👍

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