The meeting that just took place today has been worrying the markets for the last week - but at least for now it appears to have been for nothing. The hearing was a surprisingly positive view of the innovation and technology, with concerns of fraudsters taking advantage of the excitement - which frankly, is a valid concern to have.Chris Giancarlo, chairman of the Commodity Futures Trading Commission said.But careful not to come off as a crack down on the cryptocurrency market in general, the Trump appointed Securities and Exchange Commission Chairman Jay Clayton addedAnother surprisingly positive quote comes from Senator Mark Warner (D) - an early investor in the cell phone technology, said he sees a similarities between mobile phones then, and cryptocurrencies today.Warner expressed he believes the possibility that cryptcurrencies will hit $20 trillion in value, sayingThere was one set of challenges discussed - how to classify a cryptocurrency. A currency? A security? Something else entirely?Giancarlo said.Chairman Clayton said currently, they are not asking for any new laws - but in the futureMarkets appear to be in rebound following the news, with Bitcoin dipping into the $5900's briefly earlier - already at $7623 at time of publishing this article.