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By Pete Schroeder
WASHINGTON, Dec 1 (Reuters) - The top executives of eight
major cryptocurrency firms, including Coinbase Global Inc
, will testify before the U.S. House Financial Services
Committee on Dec. 8, the panel announced on Wednesday.
The hearing marks the first time major players in the
rapidly growing crypto markets will testify before lawmakers, as
policymakers grapple with the implications of the new financial
product and how to best regulate it.
Some progressives have become increasingly skeptical of
cryptocurrency and the risks they may pose, with Senator
Elizabeth Warren, among others, calling for a regulatory
crackdown on the volatile sector.
Alesia Haas, the CFO of Coinbase Global, will be among
witnesses at the hearing, which will focus on "the challenges
and benefits of financial innovation," according to the
committee announcement.
Jeremy Allaire, the CEO of Circle, Sam Bankman-Fried, CEO of
FTX Trading, Chad Cascarilla, CEO of Paxos, and Dennelle Dixon,
CEO of the Stellar Development Foundation, will also be
witnesses at the hearing.
Also testifying will be Brian Brooks, the current CEO of
Bitfury, who previously served as a top banking regulator under
the Trump administration. As the acting Comptroller of the
Currency, Brooks pushed forward several policies aimed at making
it easier for banks to engage with cryptocurrency.
(Reporting by Susan Heavey; Editing by Tim Ahmann)