Washington is discussing options for implementing a program for cryptocurrency trading.
The roundtable gathered companies’ representatives and banks from the Wall Street, as well as expert community and blockchain startups. The discussion was organized with the participation of members from the House of Representatives of the Congress from the U.S. Republican Party.
Initial Coin Offerings have the potential to make capital accessible to more people and companies: lowering barriers to entry, eliminating intermediaries, improving security, protecting privacy, and actually increasing transparency. The potential is for everyone, not just tech... https://t.co/Btr1ibWSaf
— Warren Davidson (@WarrenDavidson) September 25, 2018
The conversation united representatives from the U.S. Chamber of Commerce, Nasdaq stock exchange, international financial services provider Fidelity, executives for State Street and venture capital firm Union Square and Andreessen Horowitz among the list of attendees. To represent the crypto industry Washington called on Ripple, Coinbase exchange and Circle.
During the event scheduled for today, September 25, experts and investors plan to consider a draft law on the regulation of the field of initial coin offerings (ICO). The bodies need to hurry, as, for the consideration of the House of Representatives, this bill should be submitted before the end of this Fall.
Earlier in May, a congressman from the Financial Services Committee, Warren Davidson, announced the need to develop a mechanism to regulate the cryptocurrency market, which will ensure the protection of all players in this segment.
“I intend to lead legislation for initial coin offerings to clarify the role of regulators, protect consumers, address national security concerns, and facilitate a pro-growth environment for businesses to raise capital," he said back then.
In addition to considering the draft law on ICO, the conference participants plan to discuss taxation options for cryptocurrency traders and prospects for using blocking technology.
Last month the idea not to wait for the legal background from official bodies and to develop the common standards for the cryptocurrency exchanges market came to the Winklevoss brothers. Owners of the Gemini crypto exchange joined forces with Bitstamp, Bittrex, and bitFlyer USA to create Crypto Exchange Association. It looks like the market is visibly divided. If back then it was surprising not to see the Coinbase among the list of participants, now, the absence of the crypto pioneer twins at the discussion of such a level is also startling.
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