Regulation: Right now our language for cryptocurrency is 'sloppy', says Congressman Warren Davidson
(youtube.com)
Congressman Warren Davidson (R-Ohio),a member of the financial services committee, joins 'Squawk Box' to discuss cryptocurrency regulation.
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Francisco Gimeno - BC Analyst USA Congress is yet very much behind on their understanding of cryptocurrency (and Blockchain in general). This Congressman is right (although the interviewer shows also a lot of ignorance, btw, when he talks about BTC and illicit uses of crypto). Congress however should avoid the temptation to overregulate. Crypto means money out of the Banks and in hands of people, and means a whole financial and economic revolution. Do they understand that? USA Congress is yet very much behind on their understanding of cryptocurrency (and Blockchain in general). This Congressman is right (although the interviewer shows also a lot of ignorance, btw, when he talks about BTC and illicit uses of crypto). Congress however should avoid the temptation (…more)