Charles Hoskinson, the creator of Input Output Global and the Cardano network, confirmed that he had received a formal invitation to address the U.S. House of Representatives Committee on Agriculture about blockchain technology and cryptocurrencies.
Hoskinson will speak about blockchain and cryptocurrency before the Committee on Agriculture of the US House of Representatives. As the co-founder of Cardano would offer his thoughts on the regulatory bill in the US, enthusiasts have a good perspective on the approaching crypto regulation bill.
Input Output Global (IOG), originally known as IOHK, is located in Wyoming, and Hoskinson is rumored to be friendly with the senators there. One of the major architects of the present regulation bill is Senator Lummis.
Hoskinson, who lobbies for the cryptocurrency market as a whole, tweeted that he is on his way and is anticipated to help in educating the US regulators overseeing cryptocurrencies under the Commodities Futures Trading Commission (CFTC).
The Commodity Futures Trading Commission (CFTC) was given permission by the Agriculture Committee to oversee the commodity futures market, which would have a direct influence on cryptocurrencies since Bitcoin and Ethereum have recently been classified as commodities. Senators Kirsten Gillibrand and Cynthia Lummis have recommended that they remain so in their recently proposed bill.
Since the majority of today’s commodities historically came from the agricultural sector and were related to farming when the Agriculture Committee was established in 1820. The committee is in charge of overseeing commodities at the moment.
The CFTC was established in the United States in 1974 in order to regulate the trading of commodity futures. The Commodity Exchange Authority of the Department of Agriculture was superfluous thanks to the newly established CFTC.
The meeting with Cardano’s Charles Hoskinson will take place tomorrow at 10:30 AM EST, and anyone interested in watching can watch it live on YouTube.