At a hearing right now earlier than the Home Monetary Providers Committee’s fintech activity drive, Rep. Maxine Waters stated congressional Democrats have shaped a working group centered on cryptocurrencies.
Waters, who chairs the total Home Monetary Providers Committee, stated that as cryptocurrencies proceed to develop, she’s “organized a working group of Democratic members to have interaction with regulators and specialists to do a deep dive on this poorly understood and minimally regulated trade.”
It’s not but clear which representatives are concerned.
At present’s listening to was primarily about CBDCs (central financial institution digital currencies) and the potential dangers and rewards of a public “digital greenback” system; panelists included Dr. Neha Nerula of the MIT Media Lab, and Rohan Gray, a legislation professor at Willamette College.
Waters, a crypto critic, spoke out earlier this yr towards among the choices applied by former President Trump’s appointee for Comptroller of the Forex, Brian Brooks. Brooks, a former Coinbase government, used his tenure on the OCC to grant a number of federal charters to crypto firms, creating the primary American crypto banks—Waters has steered this strategy could have been too lenient.
She’s not the one left-leaning lawmaker to focus on crypto’s lack of regulation in latest weeks. Senator Elizabeth Warren (D-MA) just lately went after crypto for its function in facilitating ransomware assaults and hastening the local weather disaster.
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