TL;DR Breakdown
• The executives must testify before a court in the U.S.
• The Cryptocurrency market could be regulated or enter new developments in the U.S. after the meeting.
Recently the agents of the most important companies that operate with Cryptocurrency in the U.S. were summoned to testify in a meeting with the congressional commission. According to reports, this meeting will open next Wednesday, December 8.
Among those called by the U.S. Congress is Brian Brooks, who belongs to Bitfury, Alesia Haas for Coinbase, and Jemery Allaire, who represents Circle. This would be the first meeting between the regulators and the main figures of the crypto industry. They will talk about different topics that could benefit or prevent cryptocurrency trade.
The audience is scheduled for December 8
The main crypto agencies in the country were summoned to sympathize before a U.S. court for different issues. Among the possible topics to be touched are crypto regulations supported by various Democratic entities since the Trump presidency. But statements about the crypto’s illegality in the hands of politicians like Elizabeth Warren could also be opened.
However, among those cited is Brian Brooks – a previous major banking regulator, who later became the main face of the crypto company Bitfury. Brooks has created laws for crypto and is likely to show them again in court.
The cryptocurrency industry is also facing charges for money laundering, financing terrorism, or ransomware. According to regulators, anonymous cryptocurrency transactions make these criminal activities easy to perpetuate.
In another respect, some politicians believe that trusted anonymous exchange operations could change the future of virtual payments. They are cross opinions that have been present in North America since cryptocurrencies reached their peak in popularity.
The crypto market has grown significantly in the U.S
The cryptocurrency market seems to stay in the United States. With or without regulatory policies, cryptos have shown that they have the power to change economies, payment methods and even explore virtual auctions. This decentralized trade has also grown in other countries, while China has blocked its use.
Cryptocurrency has come so far that countries like El Salvador have adopted Bitcoin as a legal tender. The largest U.S. states like Texas have also developed policies supporting trade. Cities like Miami have successfully created their own tokens to participate in virtual commerce.
However, the regulators do not agree with these cryptographic advances. After this meeting scheduled for December 8, an agreement could be reached on the next regulations for the crypto market.
