Block CEO Jack Dorsey briefed the US House of Representatives democrats about Bitcoin.
Dorsey briefed democrats of the House Financial Services Committee during a special question-and-answer session on March 31, according to The Block. According to a participant in the meeting, which is open to other democratic members and staff of the committee, members asked Dorsey a series of questions about the frequently cited concerns about cryptoassets such as energy consumption, money laundering and use as a payment instrument.
Dorsey addressed a number of facts in response, such as the energy consumption changes in proof of work networks, the transparency of blockchain transactions, and the growing prevalence of crypto assets in payments. According to the notes, members were also interested in Block’s move to focus on Bitcoin-based payments. Dorsey said:
“We want to create a service and we don’t want to be Visa or Mastercard. We want to be an open environment for everyone in the world.”
A similar meeting, also discussing cryptoassets, was held last February with Securities and Exchange Commission Chairman Gary Gensler.
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