The US Congress plans to hold a hearing of the “Secret Encryption” Committee on November 17

The US Congress plans to hold a hearing of the “Secret Encryption” Committee on November 17



The Joint Economic Committee, composed of Republican and Democratic members of the U.S. House of Representatives and Senate, will hold hearings on the government’s role in cryptocurrency.

According to the schedule of the Joint Economic Committee or JEC next week, members of Congress will listen to industry experts at a hearing called “Decrypting Encrypted Currency: Digital Assets and the Role of the Government” on November 17.Before Proposed legislation to expand the regulatory and legal framework For digital assets in the United States-the hearing will be hosted.

Industry experts who plan to speak include Alexis Goldstein, director of financial policy at the Open Market Institute, Tim Massad, former chairman of the Commodity Futures Trading Commission, Kevin Werbach, director of blockchain and digital asset projects at the Wharton School of the University of Pennsylvania, and Peter Van Valkenburgh, head of research at Coin Center. Legislators including Senator Rob Portman and Senator Ted Cruz are members of JEC, and they have previously expressed support for crypto regulation.

related: House committee reviews cryptocurrency risks and regulations at hearing

Most of the discussions surrounding U.S. cryptocurrency regulation take place outside of the plenary meetings of the House or Senate, and are usually limited to meetings of the House Financial Services Committee or the Senate Committee on Banking, Housing, and Urban Affairs. However, this issue became the focus of Congress in August, when the debate on the wording of the current infrastructure bill included tax reporting requirements for cryptocurrency developers, transaction validators, and node operators.

The bill since Passed by the two houses And the Senate has not further clarified the crypto broker and is awaiting President Joe Biden’s approval.The President of the United States is expected The bill was signed into law on November 15.