House committee announces crypto CEOs will testify at Dec. 8 hearing on digital assets
House committee announces crypto CEOs will testify at Dec. viii hearing on digital assets
The hearing, "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the U.s.," is the latest from Congress to explore the bug apropos crypto assets.
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Maxine Waters, the chair of the Business firm Commission on Financial Services, has appear several chief executive officers at major crypto firms in the United States will speak at a hearing to discuss digital assets and the future of finance.
According to a Wednesday declaration, Waters said Circle CEO Jeremy Allaire, FTX CEO Sam Bankman-Fried, Bitfury CEO Brian Brooks, Paxos CEO Chad Cascarilla, Stellar Development Foundation CEO Denelle Dixon, and Alesia Haas, the CEO of Coinbase Inc. and the chief financial officer of Coinbase Global, will be witnesses at a full Firm committee hearing held on Dec. 8. The hearing, named "Digital Assets and the Hereafter of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States," is the latest from Congress to explore the challenges of adopting crypto assets.
Looking forward to hearing next week with @RepMaxineWaters, ranking member @PatrickMcHenry, and the full committee (@FSCDems) to talk over Crypto and national economic competitiveness for the United States. https://t.co/rVHAvaPMUd
— Jeremy Allaire (@jerallaire) Dec 1, 2022
On the other side of the U.S. Capitol building, Senate Banking Committee chair Sherrod Brown called on several crypto firms to release information related to consumer and investor protection on stablecoins. The notices to Coinbase, Gemini, Paxos, TrustToken, Binance.United states, Circle, Heart and Tether requesting information by Friday propose the commission may be planning a hearing on stablecoins in the future.
Related: US Congress plans 'demystifying crypto' committee hearing for Nov. 17
Though committees from both the House and the Senate have previously discussed the issues surrounding cryptocurrencies, stablecoins, central bank digital currencies and blockchain, lawmakers seem to be giving the applied science more than attention equally mainstream involvement in the space grows. In November, the President's Working Grouping on Financial Markets penned a report suggesting that stablecoin issuers in the United States should be subject to "appropriate federal oversight" alike to that of banks and that legislation was "urgently needed" to accost risks.
Source: https://cointelegraph.com/news/house-committee-announces-crypto-ceos-will-testify-at-dec-8-hearing-on-digital-assets
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