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US Congress to focus on cryptocurrencies and ICOs on March 14
A subcommittee of the U.S. House of Representatives Financial Services Committee is going to hold a hearing on cryptocurrencies and initial coin offerings (ICOs) this week, CoinDesk reported.
According to a notice posted on the official website, the Capital Markets, Securities, and Investment Subcommittee will hold a hearing, entitled "Examining the Cryptocurrencies and ICO Markets”, on March 14 at 10 a.m. EST.
U.S. Representative Tom Emmer, a member of the subcommittee, told CoinDesk that the hearing would be mainly educational in nature. The objective is to provide members with more information on cryptocurrencies and token sales.
Emmer also said that there is a growing interest among committee members to learn more about the technology and its applications in a number of areas.
The March 14th hearing follows the hearing held by the Senate Committee on Banking, Housing and Urban Affairs in February which included testimonies from the chairs of the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) – Jay Clayton and J. Christopher Giancarlo, respectively.
Earlier this year, the Subcommittee on Financial Institutions and Consumer Credit met to explore opportunities and challenges in the fintech marketplace in order to better understand how to properly regulate the industry while simultaneously ensuring that fintech companies and financial institutions remain able to deliver new and innovative products and services to consumers.
In June 2017, the Terrorism and Illicit Finance Subcommittee held a hearing entitled “Virtual Currency: Financial Innovation and National Security Implications”