Cardano founder to address US Congress with report on cryptocurrencies

Charles Hoskinson received an invitation from the House Committee on Agriculture, whose jurisdiction includes the CFTC

19.06.2022 - 07:30

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What’s new? The founder of the Cardano (ADA) blockchain Charles Hoskinson has been invited to speak before the US House of Representatives Committee on Agriculture about blockchain technologies and cryptocurrencies. According to Hoskinson himself on Twitter, the meeting will take place on June 23 at 10:30 EST (15:30 UTC) and will be streamed live on YouTube.

I just received a formal invitation to speak before the U.S. House of Representatives Committee on Agriculture about Blockchain and Cryptocurencies. It will be live June 23rd at 10:30 AM EST if anyone wants to watch it over YouTube.— Charles Hoskinson (@IOHK_Charles) June 17, 2022

What is known about the Committee? Several federal agencies fall under the jurisdiction of the Committee on Agriculture, including the US Commodity Futures Trading Commission (CFTC).

Under Senators Cynthia Lummis and Kirsten Gillibrand’s bill aimed at incorporating cryptocurrencies into the US financial system, the CFTC is to become the main regulator of digital assets. Thus, according to the document, bitcoin will be considered a commodity and will be supervised by the CFTC, while it can be traded on both spot and futures markets.

On June 14, CFTC Commissioner Christy Goldsmith Romero called on Congress to close the gap in cryptocurrency regulation. The official compared the fall in the digital assets market to the financial crisis of 2008. According to her, the main risks of the crypto industry are the large size of the market and the lack of control.

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