Washington faces struggle in learning cryptos

[xtinepink]

Who are having a hard time understanding bitcoins, altcoin and things all in crypto? I think we all do.

Even in Washington is having a hard time on how will they handle this cryptocurrencies trend. Many of the lawmakers are struggling to understand in learning how bitcoin and its brethren even work. The interest probably began after the crypto market exploded just last year.

 

“A lot of our laws are fairly old. They’re fairly dated,” Brian Knight, director of the right-learning Mercatus Center’s financial regulation program, told The Hill. “The regulators have been sort of writing rules on top of the laws, some of which may make sense, some of which may be outdated themselves.”

“Congress needs a strong understanding of the technology and its application before we can understand how it fits into our existing regulations and the laws we have on the books may encourage or inhibit an efficient market,” said Rep. Randy Hultgren (R-Ill.) at the House hearing. 

 

 

Any thoughts on this?

Source: http://thehill.com/policy/finance/380903-washington-faces-steep-cryptocurrency-learning-curve