United States lawmakers with the Senate Banking Committee have introduced three witnesses scheduled to look earlier than a listening to on “crypto crashes” scheduled on Feb. 14.
On the time of publication, the U.S. Senate Banking Committee’s listening to titled “Crypto Crash: Why Monetary System Safeguards are Wanted for Digital Property” had witnesses including Vanderbilt College legislation professor Yesha Yadav; Duke Monetary Economics Heart coverage director Lee Reiners; and Linda Jeng, a lecturer at Georgetown College Legislation Heart’s Institute for Worldwide Financial Legislation.
The listening to can be one of many first within the 118th session of the U.S. Congress exploring the regulation of cryptocurrencies following a 2022 market crash and the collapse of main exchanges together with FTX.
The crypto advocacy group Crypto Council for Innovation, or CCI, introduced Jeng would change into its chief world regulatory officer and common counsel in July. She additionally beforehand labored in an analogous function on the Circle- and Coinbase-founded Centre Consortium. In line with a CCI spokesperson, Jeng can be testifying beneath her professorship somewhat than as a consultant of the crypto advocacy group.
As a former regulator, I strongly imagine within the necessary mission of regulators to guard customers and guarantee monetary stability. However the current wave of banking company statements is worrying for the way forward for the US monetary s…https://t.co/yCcKYoGL05 https://t.co/fcv3xoGtWq
— Linda Jeng (@LindaJeng1) February 3, 2023
U.S. lawmakers can be gathering to debate occasions within the crypto area and potential regulatory options for the primary time in two months following a listening to exploring the collapse of FTX. That Dec. 14 listening to featured testimony from Hollywood star and outspoken crypto critic Ben McKenzie, legislation professor Hilary Allen, Shark Tank star Kevin O’Leary and the Cato Institute’s Jennifer Schulp.
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Former FTX CEO Sam Bankman-Fried was initially scheduled to look at a Home Monetary Providers Committee on Dec. 13, however he was arrested within the Bahamas earlier than he might fulfill that promise. The change’s present CEO, John Ray, was the only real witness on the listening to, and later testified beneath oath at an FTX chapter listening to on Feb. 6.
The Crypto Council for Innovation and Jeng didn’t instantly reply to a request for remark by Cointelegraph.
