Pandemic has changed the attitude of the US Congress towards cryptocurrency

In conversation with Circle CEO Jeremy Alleir, some of the key figures lobbying for cryptocurrencies and blockchain inWashington, they talked about a noticeable increase in the enlightenment of legislators in this area, as well as a significant increase in interest in the crypto industry from regulators.

Chamber of Digital Commerce President Perianne Boring noted that the pandemic has forced Congress to look at new monetary technologies more broadly.

“After the pandemic, we immediately saw a huge change in attitudes towards blockchain in Congress. It was a 180 degree turn. The pandemic has forced Congress to go digital ", — Boring said.

Executive Director of the Blockchain AssociationChristine Smith also noted that there have been promising changes, especially after the "allergic reaction" of legislators and regulators to Libra. Smith said:

“Nowadays there is an opinion among politicians that it is a good idea to improve our money. This is progress. "

Speaking of new shifts in cryptocurrencies,John Collins of the consulting firm FS Vector noted that themes that were hypothetical 6-7 years ago have come to life. Despite the building opportunities in the industry, nobody was talking about DeFi or Cryptokitties back then, Collins noted.

Christine Smith is not completely optimistic aboutabout potential cryptocurrency legislation. According to her, Congress is still "at a complete stop" in relation to everything that is not directly related to the elections or the pandemic. However, she pointed to Brian Brooks' new acting controller of currency and his new initiatives.

We previously reported that the Office of the Comptroller of the Currency at the US Treasury called on companies and banks to evaluate opportunities for further effective cooperation.

Christine Smith also talked about the need to turn cryptocurrencies into something simpler and more familiar to people.

There is also a huge educational gap to be bridged when it comes to digital assets and blockchain technology, Perianne Boring said.