Cryptocurrency industry executives have warned the US Congress. Manage or support related activities on a "field" basis

On the morning of December 8, Beijing time, executives from six cryptocurrency companies will testify before the United States Congress on Wednesday morning local time. This can cause disruptive operations to move "on the ground" or out of the United States.

The United States' Home Office held a hearing Wednesday at 10 a.m. (11 p.m. Beijing time) and executives from global businesses. The biggest cryptocurrency was expected. Zhong testified that he would generally follow clear guidelines for marketing. At the same time, however, it was clear that overly strict regulation would not limit the impact on the cryptocurrency market, but would ease the transition to areas outside the Meskas government.

Alesia Haas, CEO of Coinbase, the largest cryptocurrency exchange in the United States, warned in a statement on Tuesday: Don't participate in 'land' or no plans, follow the little ones. Offshore exchange. "

This audience will have a big impact on the cryptocurrency market and we will have to wait and see. The current situation facing the industry is that US lawmakers have been open to executives of cryptocurrency companies to explain their ideas on how to prevent and regulate their activities.

However, many executives of cryptocurrency companies have argued that the government should be more lenient in controlling the economy.

“There are many examples in history,” said Brian Brooks, CEO of blockchain technology company Bitfury. Silicon Valley, the birthplace of e-commerce, is the reason. "

The rapid growth of cryptocurrencies, particularly 'stablecoins', a digital asset whose gains have been tied to traditional stocks, has led to the impact of regulators and raised fears that cryptocurrencies could affect the financial system if they are not legalized. Your system is in danger. Supporters of his case have worked to make the actual transcript of this statement available online.

Last November, a task force led by the US Treasury Department approved passage by Congress of a bill that only allows “stablecoins” from banks and other securities firms. Analysts said on Wednesday the hearing could send a good signal that Congress can discuss this digital bill.

Executives of the cryptocurrency companies mentioned above welcome the rules, but say rules that are too strict can be reversed.

Jeremy Allaire, CEO of Circle Internet Financial, a blockchain-based payments and consumer credit startup, says, "The benefits of a stable, endogenous online business are" not large enough to be incomplete "but now too important to ignore. Open, competitive environment and allow new technologies to succeed.

Proponents of "securities" believe that these types of cryptocurrencies can provide reliable, affordable, and now international methods of trading currencies and therefore exchange payments. Cryptocurrency companies have argued that the United States should play a key role in advancing technology, as have the American laws that allowed the internet to thrive as it began to thrive in the years. 1990.

Denelle Dixon, director of the Stella Development Foundation, said in a statement, “At this technology, we hope to establish and develop information about global governance. Hopefully we can all agree on one thing: Cryptocurrencies and fixed coins shouldn't be buzzwords and buzzwords about it. People are afraid of the unknown. "