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Speaking of hearings, they are actually a new thing. They are a system that originated in Europe and the United States. Through this system, the judicial trial model was introduced into administrative and legislative procedures. A hearing is actually a simulation of a judicial trial. During the hearing, the two parties have opposite opinions, so the two parties will debate to produce a final result, and this result is often very binding on the final processing. You must know that as long as the opinions raised at the hearing are made, the final decision must be made by the decision-maker. So what does the cryptocurrency hearing mean? Let the editor of the currency circle introduce this cryptocurrency hearing to you.

## What does the Cryptocurrency Hearing mean?

Cryptocurrency hearings are just like hearings for the cryptocurrency community. Specifically, any opinions raised at the hearing must be responded to by decision-makers in the final ruling, otherwise the relevant actions may be invalid. In U.S. administrative law, a formal hearing usually involves two opposing parties selected by lottery, and is presided over by an administrative judge assigned by the administrative agency. The hearing is completely cloned from a court debate. Both parties not only express their opinions, but also present their own witnesses and documents to support it. own point of view. Finally, the administrative judge must make a final ruling just like a court trial, and the ruling must respond to the views of both parties in detail, otherwise the ruling may be invalidated due to procedural issues during judicial review.

Specifically, the decision-maker must respond to any opinions raised at the hearing in the final decision, otherwise the relevant actions may be invalid. In U.S. administrative law, a formal hearing usually involves two opposing parties selected by lottery, and is presided over by an administrative judge assigned by the administrative agency. The hearing is completely cloned from a court debate. Both parties not only express their opinions, but also present their own witnesses and documents to support it. own point of view. Finally, the administrative judge must make a final ruling just like a court trial, and the ruling must respond to the views of both parties in detail, otherwise the ruling may be invalidated due to procedural issues during judicial review.

## Historical Cryptocurrency Hearings

In 2018, the United States held an independent hearing on cryptocurrency. This hearing did not produce major positive developments for the virtual currency industry. Although the number of members supporting virtual currencies increased significantly during this hearing, doubts about virtual currencies still existed at the meeting: Congressman Collin
Peterson says many cryptocurrencies look like Ponzi schemes; Congressman Brad
Sherman said: "We should prohibit Americans from buying or mining cryptocurrency, which accomplishes nothing but facilitates drug trafficking, terrorism and tax evasion." Committee Chairman Michael Conaway (Michael Conaway) said
Conaway told the U.S. Department of Justice at the end of the hearing that virtual currencies may become a threat to the United States in areas such as financing terrorists and money laundering. He will present more evidence at the next hearing to let lawmakers know that virtual currencies are American threat.

In 2019, the U.S. House of Representatives will hold a hearing on cryptocurrency and Libra. The previous two hearings summoned the person in charge of Libra and academic authorities, while this hearing summoned the regulatory community. , the chairman and members of the US SEC will all attend this hearing. The hero said before that generally after the hearing, the market will show a positive performance. Before this hearing, Zuckerberg met with Trump at the White House and also met with some lawmakers on Capitol Hill. Discussions were held on the issue of Internet regulation.

There will also be a demonstration meeting in 2021. The focus of this demonstration meeting focuses on stabilizing the overall coefficient and being reasonable and legal. As the current chairman of the committee, Seamels Brown, emphasized in his opening speech, with the rapid development of the encryption market, which has recently exceeded the total market value of US$300 million, this figure has generated great expectations. However, the strong price corrections and expensive transaction fees of many cryptocurrencies make them unusable for payments, and stablecoins should be able to solve this problem. Cryptocurrency loyalists believe that stablecoins are better than real dollars because of their blockchain technology and transparency, but I think stablecoins have neither.

The above article is a detailed introduction to the cryptocurrency hearing by the editor of the currency circle. After understanding many aspects, we found that the United States frequently holds hearings to continuously discuss various topics in the field of encryption. They will also consider developing a new regulatory framework for cryptocurrency in the future to achieve further development in this field. In fact, the main purpose of holding a hearing is to find out the truth of the matter, because a formal hearing is of a quasi-judicial nature; and to ensure the neutrality of the ruling and the legitimacy of the administrative result. The person making the decision is in a neutral position and does not favor any party; and it also It is necessary to ensure the equality of the opposite parties, effective participation in administrative decisions and administrative decision-making, and realize democracy in administrative decisions.