19th July-Crypto currency belongs to the economic facet of a society. However, there are other things which get influenced because of this new addition to the economic considerations which have been in the system for a long period of time now. It has therefore become important to discuss these aspects of crypto currency as well. However, firstly, it becomes essential for the users to understand that crypto currency is not limited to a country or a state, there is no “one” bank regulating it, it is for this reason that politics, when it comes to crypto currency, can get convoluted.
The discussing of crypto currency in the Congress of United States was focused towards dealing with the above mentioned various questions which have risen with regards to crypto currency, due to a series of events. It is also essential to mention that the tone of the discussion which took place was positive. It was indicated that the manner in which crypto currency was affecting the financial sector, the way the whole system has been altered and the kind of changes which are brought about hints towards an optimistic future for crypto currency.
The controversial subject of the Russia’s role in the hacking of DNC emails and the connection it might have with Bitcoin, was also broached. It was stated that Bitcoin can be the means used by the hackers to fulfill their intentions, that is, it is through Bitcoin that various hackers got the economic aid as well as, the possibility of remaining unrecognized as they carried out their plans. However, the other factor that was mentioned was that Bitcoin has a feature that records flow of funds with surprising ease, to the ignorance of the criminals. Thus he made it clear that it is startlingly easy for the hoodwinkers to get caught if it is Bitcoin which they are using to carry out their activities.
There were other important points raised as well, which were in the favor of crypto currency, these include the opinion that the set up of crypto currency is such that there is a flexibility about it, it also dealt with how, if given optimum information, it is possible to have a better chance at creating more awareness in terms of the functions of crypto currency and the role they play in the long run for the economy at large.
In spite of the members having a positive outlook towards crypto currency, important questions were not evaded. These include the concerns over the various money laundering that was done due to ICOs as well as the problems related to lack of centralization of crypto currency.
It can be believed that this was one meeting where, by whopping in the different experts from the financial sector, several essential questions regarding digital currency were sorted. There is a lot about that remains inconclusive, but with these kind of collective efforts, crypto currency might stop being the complex conundrum it has persisted in being up until now.
