Today a subcommittee associated with the U.S. House of Representatives, is holding a hearing on ICOs and cryptocurrencies. It is expected that the hearing will mostly be for educational purposes, rather than looking for other means of regulation. Based on this, the main objective will be to provide subcommittee members with more information on the latest trends, challenges and risks associated with the cryptocurrency and ICO markets.
It is not expected that this hearing will pave the way for legislative changes that would affect the crypto economy. Rather, it is believed that the cryptocurrency community can be better off, if the executive and legislative powers understand what crypto stands for, and how it works.
However, Bitcoin falls back below $9 000 in anticipation of US House Subcommittee Cryptocurrency Hearing results. It is trading at $8 448 (-7,89%) by press time.