Next week the Senate Banking Commission of the United States is going to have a thorough discussion on cryptocurrency, the blockchain technology and their regulations.

According to an official announcement the hearing will be held next Tuesday, 10 AM Eastern Standard Time. The Chief Executive Officer of Circle Jeremy Allaire, along with law professor Mehrsa Bardaran, is going to testify as a witness. Allaire, is going to talk on the behalf of Rebecca Nelson, a specialist in international trade and Finance. Nelson also works at the Congressional Research Service.

The hearing was scheduled right after the meeting on Libra, the new crypto coin of Facebook. Facebook was thoroughly questioned about its cryptocurrency by the Banking Committee of the United States Senate focusing on potential issues such as trust, regulations and privacy.

Two members of the committee further stated that data security is an issue that should be solved in the United States as soon as possible. The government needs an extensive approach to the regulations.

During a United States House Financial Services Committee hearing, the Chief Executive Officer of Calibra was asked if regulators could have trust in a company that had such issues with privacy before and was fined five billion USD.