Cryptocurrencies will take center stage once again on Capitol Hill next week.
The U.S. House of Representatives Financial Services Committee announced Thursday that it would host a hearing titled “The Future of Money: Digital Currency” on Wednesday, July 18.
Though the Committee, headed by Chairman Jeb Hensarling, has yet to announce a full list of participating witnesses, CoinDesk confirmed that the event will be livestreamed on its website.
That being said, it seems the topic of next week’s hearing is more geared towards debating the utility of cryptocurrencies as a form of money.
It is a timely topic in light of an increasing interest in cryptocurrencies as a potentially useful monetary tool for governments and more specifically, central banks, around the world. In March, the Bank of International Settlements, what some consider as the central bank to central banks, argued cryptocurrencies backed by central banks could in fact fuel faster bank runs during periods of financial instability.
Capitol Hill flags image via Shutterstock