US Congressional Committee Announces CEOs of Cryptocurrency Companies To Testify At Digital Assets Hearing

Maxine water, the president of House Financial Services Committee, announced that several CEOs of major US cryptocurrency companies will speak at a hearing to discuss digital assets and the future of finance.

According to an announcement made Wednesday, Waters said that Circle’s CEO, Jeremy Allaire, the CEO of FTX, Sam Bankman-Fried, the CEO of Bitfury, Brian Brooks, the CEO of Paxos, Chad Cascarilla, the CEO of the Stellar Development Foundation, Denelle Dixon, and Alesia Haas, The CEO of Coinbase Inc. and the Chief Financial Officer of Coinbase Global will witness a House committee hearing on December 8th. The audience, called “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in America,” It will be the last in Congress to examine the challenges of adopting crypto assets.

I look forward to hearing from you next week @RepMaxineWaters, Ranking member @PatrickMcHenry, and the entire committee (@FSCDems) to discuss crypto and the national economic competitiveness of the United States. https://t.co/rVHAvaPMUd

to???? Jeremy Allaire (@jerallaire) December 1, 2021

We look forward to next week’s hearing with Rep. Maxine Waters, Rank Member Patrick McHenry and the entire committee to discuss cryptocurrency and the national economic competitiveness of the United States.

Opposite the United States Capitol, the chairman of the Senate Banking Committee, Sherrod Brown has asked several cryptocurrency firms to release information on consumer and investor protection of stablecoins. Notifications to Coinbase, Gemini, Paxos, TrustToken, Binance.US, Circle, Center and Tether requesting information for Friday suggest that the committee may be planning a hearing on stablecoins in the future.

Although the House and Senate committees have previously discussed issues related to cryptocurrencies, stablecoins, central bank digital currencies, and blockchain, lawmakers seem to be paying more attention to technology as general interest in the area grows. In November, the President’s Task Force on Financial Markets wrote a report suggesting that stablecoin issuers in the United States should be subject to “reasonable federal supervision” similar to that of banks and that legislation is urgently needed to counter risk.