On February 6th, 2018, the Senate created a forum to discuss cryptocurrencies in a meeting titled, “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission.” This meeting had been long anticipated by the community, with many speculating that this session could be a “make or break” moment for the cryptocurrency community. As expected, the meeting did reveal many details about Congress’s sentiment toward cryptocurrencies in general as well as their thoughts on particular regulations on specific practices in the cryptosphere as well.For those unfamiliar with how Senate hearings work in the United States, the following should provide a brief, accurate description. The Senate is a body of lawmakers in the United States similar to a parliament. Their jobs are to investigate anything under the sun related to the interests of the United States and the American people at large. To be effective in this role, the Senate is broken down into different committees.