Senate Committee on Cryptocurrency
The Senate Committee on Cryptocurrency is a special committee established in the United States Senate to provide oversight and guidance for cryptocurrency-related matters. The committee considers current issues, emerging trends, and potential policies that could have an impact on cryptocurrency markets, investors, and participants. The committee also serves as an educational resource to inform the public about cryptocurrencies such as Bitcoin and Ethereum.
The committee was originally created in 2019 with 14 members: 8 Republicans and 6 Democrats. The chair of the committee is Senator Jack Reed (D-RI). Other notable members include Senators Angus King (I-ME), Mike Rounds (R-SD), Tom Carper (D-DE) and John Kennedy (R-LA).
Since its inception, the Senate Committee has held numerous hearings to examine various aspects of crypto assets including taxation, security implications from foreign adversaries using it to evade sanctions or launder money & consumer protection surrounding digital currency trading platforms. It has also taken steps towards understanding blockchain technology’s role in protecting critical infrastructure & how regulatory agencies should go about regulating this new asset class.
In addition to these initiatives, the senate has been engaged in discussions with industry leaders from across the world including representatives from Coinbase , Circle Internet Financial , Ripple Labs & Blockchain Capital . Through these dialogues they are looking for ways to better facilitate innovation within this space while still providing adequate consumer protections & developing sensible regulations that ensure investor safety without stifling progress or choking off growth potential.
