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Coinbase, a cryptocurrency company to testify before Congress

Executives from eight major cryptocurrency companies, including Coinbase Global Inc, testify before the US Home Finance Services Commission on December 8. The panel was announced on Wednesday.

The hearing is the first time a major player in the fast-growing crypto market has testified in front of lawmakers as a policymaker. Work on impact An overview of new financial products and how to optimally regulate them.

Some progressives, especially with Senator Elizabeth Warren, are becoming more and more skeptical of cryptocurrencies and the risks they may pose. Call for regulatory crackdown In an unstable sector.

According to the Commission’s announcement, Alesia Haas, CFO of Coinbase Global, will be one of the witnesses to the hearing focusing on “the challenges and benefits of financial innovation.”

Circle CEO Jeremy Allaire, FTX Trading CEO Sam Bankman-Fried, Paxos CEO Chad Cascarilla, and Stellar Development Foundation CEO Dennelle Dixon will also attend the hearing.

Senator Elizabeth Warren is calling for crackdowns on the crypto industry.
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Brian Brooks, the current CEO of Bitfury, who was previously the highest banking regulator under the Trump administration, also testifies. Brooks, on behalf of the Office of the Comptroller of the Currency, has promoted several policies aimed at making cryptocurrencies accessible to banks.

Coinbase, a cryptocurrency company to testify before Congress

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