United States lawmakers with the Senate Banking Committee have introduced three witnesses scheduled to look earlier than a listening to 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 together with Vanderbilt College legislation professor Yesha Yadav, Duke Monetary Economics Middle coverage director Lee Reiners, and Linda Jeng, a lecturer at Georgetown College Legislation Middle’s Institute for Worldwide Financial Legislation. The listening to will likely 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 grow to be its chief world regulatory officer and basic counsel in July 2022. She additionally beforehand labored in an identical position on the Circle- and Coinbase-founded Centre Consortium. In line with a CCI spokesperson, Jeng will likely be testifying below her professorship quite than as a consultant of the crypto advocacy group.
As a former regulator, I strongly consider within the vital mission of regulators to guard customers and guarantee monetary stability. However the latest 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 will likely 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.
Associated: Senate Banking Committee’s priorities for brand spanking new Congress embody crypto: Report
Former FTX CEO Sam Bankman-Fried was initially scheduled to look at a Home Monetary Companies Committee on Dec. 13, however he was arrested within the Bahamas earlier than he may fulfill that promise. The change’s present CEO, John Ray, was the only real witness on the listening to, and later testified below oath at an FTX chapter listening to on Feb. 6.
Cointelegraph reached out to the Crypto Council for Innovation and Linda Jeng, however didn’t obtain a response on the time of publication.
