Executives from Coinbase, FTX, Circle, and other crypto firms are set to testify before Congress next week

Advertisement
Executives from Coinbase, FTX, Circle, and other crypto firms are set to testify before Congress next week
Rep. Maxine Waters (D-CA)Michael A. McCoy/Pool via REUTERS
  • A handful of the cryptocurrency industry's biggest executives are going to testify before US lawmakers on Wednesday, Dec. 8.
  • The roster includes FTX CEO Sam Bankman-Fried, Coinbase CFO Alesia Haas, and Circle CEO Jeremy Allaire.

Some of the cryptocurrency industry's biggest names are going to have something different on their agenda next week.

A heavyweights roster including FTX CEO Sam Bankman-Fried and Coinbase CFO Alesia Haas are set to meet with US lawmakers on Wednesday, Dec. 8, as Congress seeks to ramp up its regulatory oversight over the rapidly growing space.

The list of witnesses was released by Congresswoman Maxine Waters, Chair of the House Committee on Financial Services ahead of her hearing next week entitled "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States."

Advertisement

Other executives expected to attend include Circle CEO Jeremy Allaire, Bitfury CEO Brian Brooks, Paxos CEO Chad Cascarilla, and Stellar CEO Denelle Dixon.

Since she became chair, Waters has executed on a stated mission to protect consumers and investors by holding big technology firms accountable. Her committee has held multiple hearings, including one on central bank digital currencies in July 2021 and another on the ongoing crypto frenzy in June 2021.

The committee also announced the formation of the Digital Assets Working Group of Democratic Members in June, which seeks to meet "regularly with experts and government officials to learn about the challenges and promise of digital assets."

Advertisement

Generally speaking, Democrats, with Senator Elizabeth Warren as among the most outspoken, want stricter oversight as opposed to Republicans.

Also on Wednesday, US Securities and Exchange Commission Chair Gary Gensler once again reiterated his view that crypto exchanges should be regulated.

{{}}