US Congress Confused Over Crypto – Will They Tread The Right Path?

US Congress Confused over regulating Cryptocurrencies-A divided house

When it comes to cryptocurrencies people have very different opinions on some questions. But, when these opinions collide in the higher echelons of the country, the problems are inevitable.

One problem that has recently strike US is that in the US Congress opinions have been divided on Crypto into 2 opinions: from Regulation is a wet blanket; to Crypto is a crock- different opinions who took different places at the Congress itself. So, what has exactly happened in this Congress meeting when it comes to the question of cryptocurrency?

Through the course of the proceedings of cryptocurrency, it has already become clear that the panel of four crypto and Blockchain industry experts was none-the-less in agreement that further regulatory clarification from the US government is a must.

But, the committee members who are representing different parties and a wide range of ideologies have displayed a range of positions varying from condemnation to hands-off encouragement.

Many of these experts say that they do have the regulation all set in place, the clarity is the key factor that they are missing. Lempres was one of the first to give his remarks, stating that there is absolutely no need for the Congress to create a new regulator or a regulatory scheme, all because federal regulators have sufficient authority to oversee this space on a highly efficient level.

All of this has brought the Congress into one confusing situation when it comes to cryptocurrency, as they had some struggles to answer the questions given to them at a recent media-press.

There has also been a new suggestion, and it will be quite a bizarre one. A coin by any other new name should appear and it should take the crypto-world. The reason for this suggestion hasn’t cleared itself out of the dust, but it is interesting enough for the Congress to take a look on it. However, we will be set in some interesting future when it comes to cryptocurrency and government-connected issues with it.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.