Ok here is the scoop for Tues 2-6 Congressional Meeting on Cryptocurrencies.
The Senate Banking Committee will take testimony from Commodity Futures Trading Commission Chairman Christopher Giancarlo and Securities and Exchange Commission Chairman Jay Clayton.
Giancarlo will reiterate similar comments to the below he said in a speech to over 240 industry executives including saying that Blockchain is in Americas National Interest moving forward.
"Everything we do has been digitized. The one thing that has not yet been digitized is regulation. We're still very much an analog regulator of digital markets."
And most importantly, Giancarlo stressed that it is imperative that U.S. regulatory structures catch up with the fast-moving digital economy. Overcoming hurdles with supportive regulation that weeds out the fraudsters and supports legit cryptos like bitcoin and ethereum.

Jay Clayton will talk about the off shore exchanges that do not fall under SEC jurisdiction, he worries about investors being ripped off and is generally supportive of cryptocurrencies but wants to do so under a responsible framework that eliminates fraud. Our task, as market regulators, is to set and enforce rules that foster innovation while promoting market integrity and confidence. The willingness to pursue the commercialization of innovation is one of America’s great strengths. Together Americans embrace new technology and contribute resources to developing it. Through great human effort and competition, strong companies emerge. Some of the dot-com survivors are the among the world’s leading companies today. This longstanding, uniquely American characteristic is the envy of the world. Our regulatory efforts should embrace it.
Jay Clayton knows that very important things will come from cryptocurrencies noting that some of americas greatest companies arisen from the ashes of the dot com bust like google, amazon, etc. He knows it is in Americas best interests to support innovation, the issue is how to do it....

Conclusion: Expect a monster rally on Tues when everybody realizes the future of money and investment is digital and most importantly that America is going to step up and be a leader in this new technology and will not be afraid to embrace it responsibly, this is positive news for bitcoin and ethereum. America will be the envy of the world once again for its innovation and those countries that try and force bans will look foolish and their political parties will be voted out of office and the new blood will side with America...this will take time but there is a way to do this, once scalability issues are addressed it's easy to see the digital money highway built...