US House Financial Services Committee To Hold Digital Currency Hearing Next Month

Chairwoman Maxine Waters just released the March schedule for the US House Financial Services Committee with one interesting addition on March 24th.

The Subcommittee on National Security, International Development, and Monetary Policy will meet to discuss digital currencies in a hearing called “A Review of Domestic and International Approaches to Digital Currencies.” It will start at 2 pm ET, on March 24, which states the notice from February 21. Congressman Emanuel Cleaver will chair the subcommittee.

No Further Information Has Been Given

Further information on the hearing has yet to be released. Meaning that its mode of inquiry and witnesses are not yet known.

Speculation is that the hearing will include a discussion of Facebook’s Libra, especially since committee chairwoman Rep. Maxine Waters was strongly opposed in the past. She even asked before its launch, that Facebook put a stop to its work on the stablecoin.

Concerns Raised by Congress

Rep. Maxine Waters and US Fed Chairman Jerome Powell are not the only members of Congress to raise questions concerning Libra. In the past, Powell argued that it raises serious concerns about financial security, privacy, money laundering, and consumer protection.

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Author: Oana Ularu

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