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Read. Follow. Verify.Congressional Hearing: The Future of Digital Currency
Record date · January 1, 2018
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What This Bill Does
The House Subcommittee on Monetary Policy and Trade held a hearing on July 18, 2018, to examine the role of digital currency in the future of the financial system. Experts provided testimony on the historical definition of money and how digital assets might function as stores of value or mediums of exchange.
This hearing established the formal legislative record for how Congress evaluates the potential integration of digital currencies into the U.S. financial system, which could eventually influence future regulations on digital assets and banking.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Financial institutions
These entities are subject to potential future regulatory changes regarding how digital currencies are handled.
Digital currency developers
The legislative interest in digital currency may lead to future oversight or standards for their products.
Key Facts
- The hearing took place on July 18, 2018, in the Rayburn House Office Building.
- The hearing was titled 'The Future of Money: Digital Currency'.
- The subcommittee defined money as anything acting as a store of value, a unit of account, and a medium of exchange.
- Four expert witnesses provided prepared statements for the record.
Show all 5 facts
- The Chair authorized a recess at any time and allowed 5 legislative days for members to submit extraneous materials.
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News Coverage
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Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Early Congressional Interest
The hearing demonstrates that Congress began formal inquiries into digital currency as early as 2018.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz10Current news / social attention level
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