House committee pronounces crypto CEOs will testify at Dec. 8 listening to on digital property
Maxine Waters, the chair of the House Committee on Financial Services, has introduced a number of chief govt officers at main crypto corporations within the United States will communicate at a listening to to debate digital property and the way forward for finance.
According to a Wednesday announcement, 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 CFO of Coinbase Global, shall be witnesses at a full House committee listening to held on Dec. 8. The listening to, named Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation within the United States, is the most recent from Congress to discover the challenges of adopting crypto property.
Looking ahead to listening to subsequent week with @RepMaxineWaters, rating member @PatrickMcHenry, and the complete committee (@FSCDems) to debate Crypto and nationwide financial competitiveness for the United States. https://t.co/rVHAvaPMUd
— Jeremy Allaire (@jerallaire) December 1, 2021
On the opposite facet of the U.S. Capitol constructing, Senate Banking Committee chair Sherrod Brown known as on a number of crypto corporations to launch info associated to client and investor safety on stablecoins. The notices to Coinbase, Gemini, Paxos, TrustToken, Binance.US, Circle, Centre, and Tether requesting info by Dec. 3 recommend the committee could also be planning a listening to on stablecoins sooner or later.
Related: US Congress plans ‘demystifying crypto’ committee listening to for Nov. 17
Though committees from each the U.S. House and Senate have beforehand mentioned the problems surrounding cryptocurrencies, stablecoins, central financial institution digital currencies, and blockchain, lawmakers appear to be giving the expertise extra consideration as mainstream curiosity within the area correspondingly grows. In November, the President’s Working Group on Financial Markets penned a report suggesting that stablecoin issuers within the United States needs to be topic to “appropriate federal oversight” akin to that of banks, and that laws was “urgently needed” to handle dangers.