Top managers of cryptocurrencies that will appear at a hearing before the congress

• Congress will shortly ask eight leading cryptocurrency managers about the advantages and challenges of the financial innovation in the USA.
• politicians have contradictory views of the crypto and Blockchain industry, some require support and others a strict regulation.

The managers of eight large cryptocurrency companies are expected to appear on December 8th before a committee of the US congress. This is the first time in the history of the crypto sector that such a hearing takes place.

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It is noteworthy that Brooks from Bitfury previously acted as the highest banking supervisory authority under the Trump administration. As a reigning auditor of the currency, Brooks campaigned for several guidelines that aim to facilitate the commitment of the banks with cryptocurrencies.

The legislator in the USA has tried to understand the cryptocurrency industry and the subsequent regulations that should be enforced. While some politicians in the country have spoken out for digital assets, others have decided against them.

On the list of crypto supporters, in addition to the senators Pat Toomey and Ron Wyden, the senator from Wyoming, Cynthia Lummis. In August, the trio presented a proposal to the infrastructure law, which frees a number of crypto players from certain tax obligations. Although they lost, their support in the country's crypto community was widespread.

cryptocurrency cheeker leader vs. skeptic

The Mayor of Miami, Francis Suarez, and the elected mayor of New York, Eric Adams, both plan to take their salary checks in Bitcoin. Adams intends to get a New York coin similar to the Miamicoin, apart from the fact that he encourages schools to include cryptocurrency and blockchain in the curriculum. In the meantime, Suarez announced plans to pay the residents of Miami Bitcoin dividends from a newly developed Bitcoin fund. The two mayors are now in a "friendly race" to establish their jurisdiction as crypto -friendly turntables.

Read more : New York gets its own crypto, while the fight of the new mayor with Miami takes

other supporters are the congress member Jared Polis and the California vice-vice-vocorist Gavin Newsom.

On the other hand, the progressive democrat and senator Elizabeth Warren has repeatedly expressed her skepticism towards digital currencies. Ruding on financial risks, she called for a harder access by the regulatory authorities. In addition, the former potus Donald Trump publicly explained cryptocurrencies as "fraud".

and just like the USA, other countries around the world have radically pursued different approaches in terms of cryptocurrency and blockchain. China has enforced a far -reaching ban on crypto, and there is speculation that the same thing happens in India.

In contrast, El Salvador is the first to introduce Bitcoin as a legal means of payment. The country also plans to build a coin-shaped Bitcoin city at the foot of a volcano. Part of the proceeds from his Bitcoin stock should be used for the construction of classrooms and an veterinary clinic.