Bitcoin [BTC] and Ethereum [ETH] Reach the US Congress
Bitcoin and Ethereum reached the shores of the United States Congress on 7th August. This happened after, chair of the House Judiciary Committee, Bob Goodlatte revealed his crypto holdings. In was revealed in the mandatory annual financial disclosure that Goodlatte held cryptocurrencies of value between $17000 and $80000.
This revelation appears after the passing of new cryptocurrency regulations by the United States government that makes it mandatory for members to reveal their cryptocurrency transactions. Additionally, the House Ethics Committee of the U.S. pressed that it was mandatory to reveal cryptocurrency investments which were above $1000 as a reason for transparency. As per the report,
“The filing was made in May, ahead of new rules from the House Ethics Committee requiring members of the House to disclose their ownership of cryptocurrency in annual reports, the same way they would disclose any other asset.”
Earlier the United States Congress has said that cryptocurrency is the “future of money”. Congress went on to mention that the people are intrigued and are developing a liking towards the cryptocurrency. The body also mentioned that monitoring of all cryptocurrency transactions will be done. They will also be secured. It will be taken as a positive sign. as the latest report was in the favor of ethereum, Bitcoin, and cryptocurrencies in general,
After postponing the decision regarding the proposed Bitcoin Exchange Traded Fund [ETF], the SEC Chairman, Jay Clayton had previously given his view on cryptocurrencies. He said:
“I understand that there is a great deal of discussion about those crypto assets, but again we are not going to relax our rules based on the level of discussion. We need to know that the pricing is certain. We need to know that the assets are there. We need to know it’s going to function as our retail investors would expect those products to function.”
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