Cryptocurrency has now emerged as the most important factor of digital currency. As per the report, most of the people across the world, largely in the U.S. are using cryptocurrencies for doing their monetary transaction. Some experts have predicted that cryptocurrencies will be the future of digital currency. Following these cryptocurrencies will soon take center stage in a major meeting which will be held soon.
As per the report, recently the U.S. House of Representatives Financial Services Committee has officially announced that the Committee will hold a meeting named The Future of Money: Digital Currency. The audience can read cryptocurrency news today to know more about this. Some sources have informed that Jeb Hensarling, the Chairman will be headed the committee. But he has not officially announced about the participants.
The event will be broadcasted live on the official website, or else people can visit the latest cryptocurrency news section to read the entire discussion after the meeting. In the previous meeting, many lawmakers had discussed the cryptocurrencies in the viewpoint of financing the terrorism and illegal cryptocurrency investments. They discussed and gave some valuable information regarding how to buy cryptocurrency safely without facing any illegal activities.
They have debated over many factors, and one of the major topics was uses of the cryptocurrencies in the form of money. The digital currency market has witnessed increasing popularity and interest in the world of cryptocurrencies. It has now treated as the one of the major monetary equipment for all the governments’ agencies like central banks across the world.
The Bank of International Settlements in March informed that the cryptocurrencies supported by the central banks could boost bank transaction during the financial crisis period. However, apart from the U.S. many other countries like Finland, Canada, and South Korea also have given their opinion on this matter, and the responses are quite mixed.
It may be noted that in November 2013 the US Senate Committee on Homeland Security & Governmental Affairs admitted that digital currencies are the easiest and secure means of payment. For example, Bitcoin. The Bitcoin network charges very minimal fees for the transaction. It allows the transfer of funds from migrant workers back to their families without paying any extra charges. All you need to know is what is cryptocurrency?
A previous report stated that as per a European Commission stated if the global average remittance of 10% were reduced to 5%; this could lead to additional US$ 17 billion flowing into developing countries. As the cryptocurrencies are one of the easiest ways to transfer money from one account to another, it is now gaining more and more popularity despite its instability. Stay up to date about the latest cryptocurrencies news through the cryptonews.