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ARTICLE · 22 JUNE 2017

Policymakers Increasing Their Scrutiny Of Virtual Currencies

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Virtual currencies are attracting unprecedented worldwide attention from not only businesses and investors but also U.S. policymakers.

United StatesTechnology
Carol Van Cleef
Carol Van Cleef
Peggy Peterson
Peggy Peterson
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Virtual currencies are attracting unprecedented worldwide attention from not only businesses and investors but also U.S. policymakers.

The increasingly intense interest in virtual currencies is fueled by all-time highs in the price of bitcoin and other virtual currencies, excitement generated by the flood of POCs (proofs of concept) using the underlying technology, the frenzy of fundraising stoked by initial coin offerings (ICOs), and the additional demand created by unfortunate ransomware attacks.

At the recent Consensus 2017 conference, which is one of the most significant events in the fledgling blockchain world, the predominant topics of discussion were the new virtual currencies and blockchain technologies being unveiled almost daily, the legality of ICOs, and how much and how fast the next ICO would raise money.

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