The White House
The CEO of Circle spoke at the United States congress at the assembly that took the name of "Examining Regulatory Framework for Digital Currencies and Blockchain". At the United States Congress, Jeremy Allaire, the CEO of Circle, a specialist in international finance and trading, spoke about the text, along with also Rebecca M. Nelson and Mehrsa Baradaran, law professor at the Irvine School of Law " University of California.
The session focused on one of the most burning issues of this period, namely the regulation within the cryptocurrency field. During the meeting there was also a premise about Libra, the Facebook cryptocurrency, remembering i doubts that generated this new projector, in fact, all the senators are worried about Libra.
Mike Crapo during the meeting explained that cryptocurrencies and the blockchain both are inevitable, but it is also very important that someone regulates the sector, and according to him it should be the American government that leads this sector. According to Crapo at the US congress, we need to understand how to create a framework and relative regulation of digital currencies.
During the congress Senator Sherrod Brown also spoke who wanted to emphasize that we cannot trust the Libra project, as this too will have negative effects, even if it would be possible to benefit from it, there are still many rules to follow and we need clarity on the matter.
Finally, after the senator, the Jeremy Allaire the CEO of Circle which first of all explained the background that got after 25 years in the financial sector. During his speech he explained that we need to share at the same time find a system to simplify entry in the world of cryptocurrencies to users, in order to simplify entry even for people with less experience in the sector.
Allaire emphasized that today the traditional banking system also has many disadvantages such as fraud and funds of dubious origin, therefore praised The blockchain and its security system as the future also for the banking world. Furthermore, he said that many cryptocurrency companies, such as Circle, are currently operating in the sector in full compliance with US laws.
Also Professor Baradaran stated that the Blockchain is an opportunity to ensure greater security for all in the financial field and also at lower costs. The traditional financial system in fact, at the moment, presents many costs for end users. Of course, the professor is aware that it cannot be replaced immediately but it is possible to integrate the technology as it is to improve the management of the entire banking sector.
