US House Committee hearing on crypto CEOs on 8 December
A hearing took place by the US House Committee on the Financial Services, which includes many types of legislation and regulations based on guidelines on the crypto industry.
In the present time, the crypto industry is surging with very high demand unlike the stock and share market because of the decentralized nature, which has its full network in the whole world without any limitations of the location of a person. Due to increasing demand, there is also a need of huge attention and better legislation with the consideration of all kinds of suggestions by the leaders of the Crypto industry to avoid any mistakes.
On 8 December at 10:00 AM ET, a hybrid hearing took place by the United States House Committee on Financial Services, which included many important things about the crypto industry.
There were many US officials and also 6 crypto players. The six executives of the crypto Market were Circle’s Jeremy Allaire, FTX’s Sam Bankman-Fried, Bitfury Group’s Brian Brooks, Paxos’ Charles Cascarilla, Stellar’s Denelle Dixon, and Coinbase’s Alesia Haas.
The title of the hearing was ‘Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States. So through the title, we concluded that the main initiative of this hearing was to figure out the perfect and better things in the crypto industry with the restriction of unfair things.
The main aspect of the discussion in the hearing was to note all the regulatory concerns in the crypto space, which included crypto exchanges and stablecoins offerings more importantly.
On 2 dece, officials confirmed through Twitter and other sources.
The whole thing of the hearing was based upon the figure out all the industry’s main products-based services that are necessary and also to bring a better ecosystem.
Many people criticized on the basis of details available in the memo and said that they included a limited number of CEOs from the crypto industry, while they have lots of options to work on almost all the issues.
Note: when all the details will come out in the public domain, then we will also give an update about it here*.
Read also: Visa launches crypto consulting service to push adoption
