US House of Representatives Has Valentine's Day Date With Blockchain

crypto hearing

While you are planning for your hot date on Valentine’s Day, there is another reason you might want to mark your calendars on February 14th. That is the day when the US House of Representatives will hold an in-depth hearing on Blockchain technology.

Two subcommittees under the US House Committee on Science, Space, and Technology - the Subcommittee on Oversight and the Subcommittee on Research and Technology - will hold a hearing dubbed “Beyond Bitcoin: Emerging Applications for Blockchain Technology". 

The hearing begins at 10:00AM EST and will host some top-level executives from major brands, such as IBM’s VP of Blockchain Jerry Cuomo and Walmart’s VP of Food Safety Frank Yiannas, along with many others.

While it is not immediately clear what the goal is for next week’s hearing, these subcommittees oversee legislative action pertaining to their respective fields in science and technology. 

This week, the SEC and CFTC met with the Senate to present their findings related to cryptocurrencies and blockchain technology, and took a “do no harm” approach that was viewed widely as a positive move for cryptocurrencies. The sentiment sparked a surge in Bitcoin’s price and the cryptocurrency market cap.

If positive news out of the USA continues, the cryptocurrency market should continue to rise from the recent downtrend.