Congress, SEC, Congressman discussed on Epicenter Bitcoin


Banana coin all like like it's a weird menagerie so explain that to congress is hard and making them feel like everything's ok is difficult because maybe maybe everything's not okay actually i don't know there's a lot of really bad tokens out there i think even people who love technology but agree about that and then dividing the space just so it's very clear to ups in congress between that kind of the new hotness the new crazy and running functioning open source off wear open blockchain networks that are achieving some sort of result in the world right now even if the result in the world right now is just digital scarcity even if it's just the ability to have peer to peer transfer of these probably scarce assets like bitcoins easter or things like that because the dividing lines really important because i think you're gonna get and maybe for the right reasons much more heavy handed regulation of the speculative ico craze than you would want to and then that we would need i think in the crypto currency space where the risks are different and i think less pronounced for investors now just to give some context here can you congressional hearings fifty subcommittee what is the purpose of these hearings so congress needs more information to better oversee the work of the sec they need to know whether they need to create new legislation that would meant the sec's authority or any other agencies thority with respect to capital formation and capital markets that's that's what these particular congressman are most concerned about and it's just an opportunity to get a lot of stuff on the congressional record which will then be cited in court cases or then decided by democrats or other politicians as you know important information for people to know if they're thinking about regulating the space if they're thinking about legislating in this space if they're in a court case where they have to ask like what's the sense of congress in what's the sense of the agencies about two weeks before this hearing chairman clayton the chairman of the sec and chairman giancarlo the chairman of the cftc which is the commodities futures investor protection regulator versus the.

Coming up next