RATE Group | Crypto Upstages Other Mobile Payments in US Congressional Hearing
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Crypto Upstages Other Mobile Payments in US Congressional Hearing

31 Jan Crypto Upstages Other Mobile Payments in US Congressional Hearing

Posted at 06:46h in Cryptocurrency News by

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Congress clearly has crypto on the brain, with the question of regulation being a matter of when.

At a Jan. 30 hearing before the Fintech Task Force, a body within the United States House of Representatives, lawmakers were focused on bringing crypto into the conversation. 

The basics

The hearing — entitled “Is Cash Still King? Reviewing the Rise of Mobile Payments” — featured testimony from witnesses with backgrounds spanning payment providers, consumer advocates and financial inclusion non-profits. 

While some of the written testimony provided by the witnesses before the hearing mentioned cryptocurrencies, the degree to which the industry occupied the hearing was surprising. The members of the Fintech Task Force are clearly looking seriously at cryptocurrencies and blockchain technology as answers to issues of financial inclusion and a sluggish payments process.

The representatives thinking crypto

A name familiar to many Cointelegraph readers, Rep. Tom Emmer (R-MN), the…

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