RATE Group | Congress Should Make Cryptocurrencies a Key Focus: U.S. Rep
36740
wp-singular,post-template-default,single,single-post,postid-36740,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Congress Should Make Cryptocurrencies a Key Focus: U.S. Rep

28 Jul Congress Should Make Cryptocurrencies a Key Focus: U.S. Rep

Posted at 00:35h in Cryptocurrency News by

[ad_1]


Bill Huizenga cryptocurrency

At a Congressional hearing earlier this year, a key member affirmed his intention “to not sit by idly” while the cryptocurrency investors remain unprotected.

That congressman, Rep. Bill Huizenga (R-MI), has once again called Congress for oversight of what he believes is a “muddled and fairly opaque” cryptocurrency market. A contender to lead the House Financial Services Committee, Huizenga promised to make cryptocurrency regulation his crucial agenda, if he assumes the office after the midterm elections this year.

The statement, first reported by Bloomberg, arrives in the wake of growing securities frauds, both in the U.S. and abroad. People are reportedly investing their life savings into imaginary projects backed by worthless digital currencies. An ICO market study by MIT professor Christian Catini revealed that 85% of all ICO investment has been directed at scams.

In response, U.S. and Canadian regulatory bodies have accelerated an “Operation Crypto Sweep” that…

[ad_2]

Source link