Senate panel questions crypto's financial inclusion powers, calls for more regulatory clarity
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Quick Take
- The U.S. Senate Banking Committee held a hearing on cryptocurrency regulation today, with many questions leading back to the Libra hearing earlier this month
- Senators questioned the ability of digital finance to bank the unbanked, as Libra and other cryptos have stated as their goal
The Senate Banking Committee continued its probe of blockchain technology on Tuesday in a hearing on crypto regulation that quickly focused on Facebook’s impending Libra cryptocurrency. Panelists and Senators alike expressed skepticism about crypto’s ability to broaden access to global financial services while expressing further doubt about Libra’s purported goal of banking the unbanked. Experts […]
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