The highest executives of eight main cryptocurrency corporations, together with Coinbase World Inc , will testify earlier than the U.S. Home Monetary Companies Committee on Dec. 8, the panel introduced on Wednesday.
The listening to marks the primary time main gamers within the quickly rising crypto markets will testify earlier than lawmakers, as policymakers grapple with the implications of the brand new monetary product and how one can finest regulate it.
Some progressives have turn out to be more and more skeptical of cryptocurrency and the dangers they might pose, with Senator Elizabeth Warren, amongst others, calling for a regulatory crackdown on the risky sector.
Alesia Haas, the CFO of Coinbase World, will likely be amongst witnesses on the listening to, which can deal with “the challenges and advantages of monetary innovation,” based on the committee announcement.
Jeremy Allaire, the CEO of Circle, Sam Bankman-Fried, CEO of FTX Buying and selling, Chad Cascarilla, CEO of Paxos, and Dennelle Dixon, CEO of the Stellar Improvement Basis, will even be witnesses on the listening to.
Additionally testifying will likely be Brian Brooks, the present CEO of Bitfury, who beforehand served as a prime banking regulator below the Trump administration. Because the appearing Comptroller of the Forex, Brooks pushed ahead a number of insurance policies geared toward making it simpler for banks to interact with cryptocurrency.
