- Representative Maxine Waters, chairwoman of the US House Committee on Financial Services, has invited cryptocurrency CEOs to testify at the full hearing.
- CEOs of FTX and Coinbase, Sam Bankman-Fried and Alessia Haas are on the witness list of executives invited to testify at the committee hearing.
- The hearing’s agenda is to hold crypto CEOs accountable for protecting consumers and investors availing of their services.
The US House Committee on Financial Services oversees all components of the financial services sector. The committee has scheduled a hearing on “Digital Assets and the Future of Finance,” inviting CEOs of cryptocurrency exchanges and firms to testify.
Sam Bankman-Fried of FTX to testify on ‘Digital Assets and the Future of Finance’
Sam Bankman-Fried, the CEO of FTX, a leading cryptocurrency derivatives platform, is one of the key witnesses on the US House Committee on Financial Services list.
Congresswoman Maxine Waters, Chairman of the committee, has invited CEOs of Circle, FTX, Bitfury, Paxos, Stellar Development Foundation and Coinbase Inc. to testify at the full hearing.
BREAKING ‼️
— U.S. House Committee on Financial Services (@FSCDems) December 1, 2021
Chairwoman @RepMaxineWaters Announces #Cryptocurrency CEOs to Testify at Full Committee Hearing | https://t.co/6IBi6jGNAC pic.twitter.com/r4kJqjmhqu
The committee’s agenda is to focus on fairness, protecting consumers and investors, holding large financial institutions and emerging tech products and services accountable for the protection of consumers and investors.
Chairwoman Maxine Waters has made it a practice to organize committee hearings and call upon CEOs of major financial institutions.
All committee hearings are live-streamed. In the hybrid committee hearing on December 8, CEOs and attendees will take up the topic,“Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”
Witness List:
— U.S. House Committee on Financial Services (@FSCDems) December 1, 2021
• Jeremy Allaire, CEO, @circlepay
• Sam Bankman-Fried, CEO, @ftx_us
• Brian Brooks, CEO, @BitfuryGroup
• Chad Cascarilla, CEO, @PaxosGlobal
• Denelle Dixon, CEO, @StellarOrg Development Foundation
• Alesia Haas, CEO, @coinbase Inc. & CFO, Coinbase Global Inc.
In hybrid hearings, members and witnesses are allowed to participate remotely or in person.
Chairwoman Waters has been an outspoken critic of cryptocurrencies due to the unregulated nature of the asset. Witnesses on Chairwoman Waters’ list are keen on stricter cryptocurrency regulation.
Sam Bankman-Fried of FTX is in favor of tighter cryptocurrency regulation for investors. Bankman-Fried expressed his thoughts on the matter in an interview in September.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: Bitcoin is less than 10% away from all-time high as Ethereum ETF approval anticipation brews
Bitcoin trades around $68,000 early on Monday, less than 10% away from its all-time high of $73,777 on Binance. Ethereum ETF anticipation brews among traders and Ether investment products see inflow of over $45 million in the past week.
Ripple lawsuit settlement likely soon, says Brad Garlinghouse, XRP hovers around $0.60
Ripple (XRP) trades around a key psychological level of $0.60, early on Monday. The altcoin recently made headlines for its highest weekly gain of 2024, over 40%. XRP sustained nearly 21% of the gains from the last seven days.
Solana could cross $200 if these three conditions are met
Solana’s total value locked climbs 18% in July to $5.38 billion, as seen on DeFiLlama. Solana sustains over 20% gains in the past seven days, corrects nearly 3% on Monday. Active addresses and new address count in the Solana network have increased throughout July.
ALT, WLD, ENA, ID set for $200 million token unlocks next week
The crypto market is set to experience another wave of token unlocks next week, with Altlayer (ALT), Worldcoin (WLD), Ethena (ENA), and Space ID (ID) set for a combined token unlock worth about $200 million.
Bitcoin: Will BTC continue its bullish momentum?
Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.