US House to Debate Cryptocurrencies with Leaders from Coinbase, FTX, Circle, Paxos and Others

Several cryptocurrency industry executives have been called to appear on Capitol Hill to testify before Congress to clear up some of the many misunderstandings surrounding cryptoactives.

The hearing to debate cryptocurrencies was called by US Congresswoman Maxine Waters. She is currently chair of the US House Financial Services Committee.

Titled “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States,” the assembly aims to demystify some of the misconceptions policymakers have about the crypto industry and its underlying technology.

To discuss the topic, several leaders from the digital asset industry were invited, including Circle CEO Jeremy Allaire; FTX CEO Sam Bankman-Fried; Paxos CEO Chad Cascarilla; Bitfury CEO Brian Brooks; Stellar Development Foundation CEO Denelle Dixon and Coinbase CFO Alesia Haas.

Crypto industry leaders will attend the audience

According to the US House Financial Services Committee, the hearing will be held on a hybrid basis, next Wednesday, December 8, at 10:00 am Eastern Time.

The session will be broadcast live on House Financial Services Committee website.

Since becoming chair of the Financial Services Committee, Congresswoman Waters has held several hearings.

The objective, according to her, is to protect consumers and investors and hold large financial institutions accountable. In practice, these sessions include a kind of accountability to the public by these companies.

In July 2021, for example, the Waters committee held a hearing on central bank digital currencies.

Additionally, in June, the committee announced the formation of the Democratic Members’ Digital Assets Working Group.

The group’s aim is to meet “regularly with experts and government officials to learn about the challenges and promises of digital assets.”