U.S. Congress To Discuss Cryptocurrency Regulation With Cryptocurrency CEOs

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The House of Representatives Financial Services Committee has invited directors from Coinbase, Circle, FTX, Bitfury, Paxos, and the Stellar Development Foundation to discuss crypto regulation.

Financial Services Committee Chair Maxine Waters Wednesday December 1
reportedthat a meeting in the US House of Representatives is scheduled for December 8. Discussion topic “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation”.

Invited for discussion: Circle Payments CEO Jeremy Allaire, FTX CEO Sam Bankman-Fried, Bitfury CEO Brian Brooks, Paxos CEO Charles Cascarilla , Stellar Development Foundation CEO Denelle Dixon and Coinbase CFO Alesia Haas.

It is worth noting that Maxine Waters previously criticized cryptocurrencies for the impossibility of regulating them and called for a ban on banks from storing collateral for stablecoins. In June, she announced that she was forming a group of Democratic Party members to address growing concerns about cryptocurrencies.

Sam Bankman-Freed, CEO of crypto derivatives exchange FTX, called on the industry in August to work more closely with regulators to accelerate the drafting of cryptocurrency oversight legislation. Brian Brooks, who took over as CEO of Bitfury in November, was acting head of the Office of the Comptroller of the Currency (OCC). Thanks to his initiative, banks were allowed to hold funds to secure stablecoins.

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