The highest executives of eight main cryptocurrency companies, together with Coinbase International 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 the way to greatest regulate it.
Some progressives have turn into 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 unstable sector.
Alesia Haas, the CFO of Coinbase International, will probably be amongst witnesses on the listening to, which is able to give attention to “the challenges and advantages of monetary innovation,” in keeping with 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, can even be witnesses on the listening to.
Additionally testifying will probably be Brian Brooks, the present CEO of Bitfury, who beforehand served as a prime banking regulator underneath 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 have interaction with cryptocurrency.