Congressional Hearing Explores Costs, Benefits of Small Business Bitcoin Use
The US House of Representatives committee on small business held a hearing on 2nd April to discuss the growing use of bitcoin by the country's small business owners (SMBs), and the pros and cons that using this technology as a payment option offers the demographic. Entitled 'Bitcoin: Examining the Benefits and Risks for Small Business', a panel of experts spoke about the benefits and costs of the use of bitcoin by SMBs, while also touching on hot topics like Silk Road and the recent IRS decision on the tax treatment of digital currencies. Committee Chairman Sam Graves noted in his opening....
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Last Wednesday, the Committee on Small Business held a hearing aimed at exploring Bitcoin, the benefits and risks for small businesses. The hearing was attended by financial, legislative, economics and leading Bitcoin professionals. "Bitcoin: Examining the Benefits and Risks for Small Businesses," was one of the first hearings to be entirely focused on how Bitcoin can affect small business. Those appearing at the hearing to give testimony were Jerry Brito, Senior Researcher at the Mercatus Center. Adam White, Director of Business Development and Sales at Coinbase. Mark Williams, Master....
At 1PM on 4/2/14 in room 2360 of the Rayburn House Office Building, the House Committee on Small Business assembled for a hearing on Bitcoin: Examining the Benefits and Risks for Small Business. The House Committee on Small Business is chaired by Congressman Sam Graves [MO-06], other representatives on the committee are Tom Rice [SC-07], Chris Collins [NY-27], Kerry Bentivolio [MI-11], David Schweikert [AZ-06], Tim Huelskamp [KS-01], Richard Hanna [NY-22], Jaime Herrera Beutler [WA-03], Scott Tipton [CO-03], Mick Mulvaney [SC-05], Blaine Luetkemeyer [MO-03], Mike Coffman [CO-06], and last....
The congressional hearing hilariously titled “America on ‘FIRE:’ Will the Crypto Frenzy Lead to Financial Independence and Early Retirement or Financial Ruin?” is the gift that keeps on giving. NewsBTC already analyzed some aspects of it, but Peter Van Valkenburgh’s testimony merits an article on its own. The Director of Research at Coin Center got […]
With a tremendous build-up heading into yesterday's hearing, the price of BTC peaked at over 600 USD. At the start of today's hearing beginning with Senator Tom Carper's (D-DE) opening statement, the price of Bitcoin dropped quickly to 445USD/BTC yet at the close of the hearing, the price of Bitcoin stood at 620USD/BTC and keeps rising. With two panels and a captivated audience on the Hill and via online around the world, the first US Congressional Hearing on virtual currencies can be viewed as a success. Senator Carper (D-DE) opened up the hearing with an introduction expressing the....
Congresswoman Velázquez. Representative Nydia M. Velázquez (D-New York) today made remarks with relation to bitcoin at a House Committee on Small Business hearing entitled Bitcoin: Examining the Benefits and Risks for Small Business. I'm not going to fill this post up with fluff and a full-on analysis that really just restates what the Congresswoman said. I think it's best read as a transcript. I have, however, emboldened sections I think are important. "Thank you, Mr. Chairman. American entrepreneurship is closely linked to technological innovation. Whether it was the arrival of Google or....