Future of Cryptos: On 18 July 2018, the House of Representatives of the United States of America, one of the two branches of the US Parliament, held a hearing with the very significant title:“The Future of Money: Digital Currency“.
The event is organized by the Subcommittee on Monetary Policy and will be held in Hall 2128 of the Rayburn House Office Building.
The hearing will be attended by Dr Rodney J. Garratt, Maxwell C. and Mary Pellish Chair of the University of California in Santa Barbara, Dr. Norbert J. Michel, Director of the Center for Data Analysis of the Heritage Foundation, Dr. Eswar S. Prasad, Senior Fellow at the Brookings Institution, and Alex J. Pollock, Distinguished Senior Fellow at R Street Institute.
The hearing will examine how the US government should consider cryptocurrencies as money and their potential domestic and global use as currencies.
The Sub-Committee will also assess possible use of cryptocurrencies by central banks and discuss the future of cryptocurrencies and physical money.
Nowadays, the opening of the USA towards cryptocurrencies seems to be an established fact, especially after the publication of the in-depth study by the FED of St. Louis which, in addition to demonstrating that it has finally understood how this technology works, has cleared customs for this innovation, making it also acceptable to the great financial institutions of the country.
The aspects related to the business potential that could arise from the adoption of cryptocurrencies in many cases have overcome the fears that have plagued this sector for years, so that the most farsighted countries, such as the US or Switzerland, are trying to equip themselves to avoid letting someone else do this business.