🚨 Get Your Free NFT Certificate Mint by Completing the Web3 Exam! START NOW
My Learnlist: Coming Soon!
My Learnlist: Coming Soon!

Learn by real-life examples: Select, Track & Understand any cryptos with the unique Learnlist feature!

Notify Me!
Portfolio: Coming Soon!
Portfolio: Coming Soon!

Set your wallet & get powerful insights backed by data. Easily learn how to use it for your highest rewards!

Notify Me!

Congress Crypto Hearing: Federal Regulation, Crypto Exchanges, Stablecoins, and More

Congress Crypto Hearing: Federal Regulation, Crypto Exchanges, Stablecoins, and More

The United States House Committee on Financial Services will be holding a hearing on Wednesday. This hearing will be of a hybrid nature, and will involve discussions about digital assets and their regulation, too.

Specifically, the committee outlined four core topics to be discussed:

Six different crypto officers will be present in the hearing, as witnesses. These include representatives from Coinbase (Alesia Haas), Stellar (Denelle Dixon), FTX (Sam Bankman-Fried), Bitfury (Brian Brooks), Paxos (Charles Cascarilla), and Circle (Jeremy Allaire).

What is Olympus DAO? (OHM Crypto Animated Explainer)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Olympus DAO? (OHM Crypto Animated Explainer)

What is Olympus DAO? (OHM Crypto Animated Explainer) What is Olympus DAO? (OHM Crypto Animated Explainer)

The hearing is titled “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States”. As the name might imply, as it relates to crypto, the committee will aim to examine specific products and services offered by crypto-affiliated companies.

In addition, the focus of the hearing will include stablecoin growth discussions, an analysis of what role crypto exchanges play in the investment strategies of cryptocurrency investors, and also a look at the current regulatory measures present within the space.

Congress also hopes to clear up the grey areas surrounding CBDCs (central bank digital currencies). The Federal Reserve is currently conducting a study on how CBDCs could either create benefits, or cause risks to the payment system within the United States.

Out of the six witnesses present in the hearing, the biggest advocate for CBDCs is Jeremy Allaire, since Circle is an issuer of stablecoin. Allaire suggests that policymakers should create a competitive environment, and allow modern digital payment solutions and new technologies “to flourish”.

Aaron S., Editor-In-Chief
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.



Earn Huge Exclusive Binance Learners Rewards