Cryptocurrency execs to appear before Congress next year

Cryptocurrency execs to appear before Congress next year

Congress has called on the leaders of several crypto businesses to discuss the ecosystem

Recently a call was issued for all the executives of the most important companies operating in the crypto space in the US to appear and testify at a meeting with the Congressional Committee. According to what has been reported so far, next Wednesday, December 8, will be the day when the meeting will be held.

Alesia Haas from Coinbase, Brian Brooks, who belongs to Bitfury, and Jeremy Allaire, co-founder of Circle, are some of those summoned by Congress who have been confirmed so far. The meeting would mark a new step in history as it would be the first time that these leading figures in the cryptocurrency industry would meet in the same room as regulators. All are expected to discuss different issues that could prevent or benefit cryptocurrency trading.

Because there are different issues that need to be addressed in order to have a more regulated 2022, the country’s leading cryptocurrency companies were asked to sympathize before a US court. It has been said that one of the main issues to look at are crypto regulations backed by various Democratic entities since Donald Trump’s presidency. Although it has been made clear that depositions could also be opened on the legality of these digital assets in the hands of politicians such as Elizabeth Warren.

The cryptocurrency industry has always been involved in various controversial issues, such as terrorist financing, money laundering, or ransomware. According to regulators, the fact that transactions in this space are completely anonymous and decentralized opens a door for criminal activity. However, not all thoughts are the same, as other legislators strongly believe that trusted anonymous exchange transactions could change the future of virtual payments.

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