12.02.2021

Crypto CEOs to Testify at House Committee Hearing

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following witnesses for the December 8 full Committee hybrid hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”

  • Jeremy Allaire, CEO, Circle
  • Sam Bankman-Fried, CEO, FTX
  • Brian Brooks, CEO, Bitfury
  • Chad Cascarilla, CEO, Paxos
  • Denelle Dixon, CEO, Stellar Development Foundation
  • Alesia Haas, CEO, Coinbase Inc. and CFO, Coinbase Global Inc.

The hybrid hearing will be held on Wednesday, December 8 at 10:00 AM ET.

See Chairwoman Waters’ announcement of the Digital Assets Working Group here.

Since becoming Chairwoman of the House Financial Services Committee, Congresswoman Waters has transformed the Committee to focus its agenda on fairness, protecting consumers and investors, which includes accountability of large financial institutions and emerging tech products and services. She has made it a practice to call Committee hearings with CEOs of major financial institutions and companies to hold them accountable.

The Committee has been a leader in highlighting issues related to cryptocurrency and financial technology:

In July of 2019, Chairwoman Waters convened a hearing to examine Facebook’s proposed cryptocurrency and its impact on consumers, investors and the U.S. financial system with David Marcus, the head of Calibra.

In October of 2019, Chairwoman Waters convened a hearing with Facebook Chairman and CEO Mark Zuckerberg on Facebook’s impact on financial services and housing.

In September of 2020, the Task Force on Financial Technology held a hearing entitled, “License to Bank: Examining the Legal Framework Governing Who Can Lend and Process Payments in the Fintech Age.”

In June of 2021, the Task Force on Financial Technology held a hearing entitled, “Digitizing the Dollar: Investigating the Technological Infrastructure, Privacy, and Financial Inclusion Implications of Central Bank Digital Currencies.”

In June of 2021, Chairwoman Waters announces the Digital Assets Working Group of Democratic Members.

In June of 2021, the Subcommittee on Oversight and Investigations held a hearing entitled, “America on “FIRE”: Will the Crypto Frenzy Lead to Financial Independence and Early Retirement or Financial Ruin?”

In July of 2021, the Subcommittee on National Security, International Development and Monetary Policy held a hearing entitled, “The Promises and Perils of Central Bank Digital Currencies.”

All hearings are livestreamed on https://financialservices.house.gov/live/.

Due to COVID-19, all markups and hearings will be in hybrid format. Members and witnesses may participate remotely via Cisco WebEx or participate in-person in room 2128 Rayburn House Office Building.

Committee activities are finalized once an official notice is issued by the House Financial Services Committee. Visit https://financialservices.house.gov/calendar/ for the most up-to-date Committee schedule.

Source: House Financial Services Committee

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