Discussion on crypto and major tech firms combine in hearing over decentraliz...
“The point of crypto is to have true decentralization — the projects that succeed will be the projects that achieve that," said Brian Brooks. Blaine Luetkemeyer, a House representative from Missouri, revisited the issue of major companies exerting control over vast swaths of the internet, something he expressed concerns about encroaching in the crypto space.Speaking at a Wednesday hearing on digital assets with The House Committee on Financial Services, Luetkemeyer addressed Bitfury CEO and former acting Comptroller of the Currency Brian Brooks in saying that major tech firms including....
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Despite skepticism about loosening regulations on loans, the Fintech Task Force couldn't stop talking about crypto as a way of upgrading payments in the U.S. In a hearing on Tuesday, the Congressional Fintech Task Force heard arguments on new rules that would potentially expand banking regulations to accommodate more technology firms providing financial services.A subunit of the Financial Services Committee, the Fintech Task Force leads the committee’s examinations of emerging technologies. As Task Force Chair Stephen Lynch (D-MA) noted, “Banking is becoming less centralized. Consumers are....
The hearing, "Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States," is the latest from Congress to explore the issues concerning crypto assets. Maxine Waters, the chair of the House Committee on Financial Services, has announced several chief executive officers at major crypto firms in the United States will speak at a hearing to discuss digital assets and the future of finance.According to a Wednesday announcement, Waters said Circle CEO Jeremy Allaire, FTX CEO Sam Bankman-Fried, Bitfury CEO Brian Brooks, Paxos....
Financial firms need to be mindful of cybersecurity challenges as they look to integrate blockchain, a top IT agency for the European Union said this week. The European Union Agency for Network and Information Security (ENISA) has published a new report on blockchain tech, which seeks to highlight the security challenges that large businesses might experience in the face of broader blockchain adoption. Key management, data privacy and oversight of smart contracts were some of the major items identified in the report. It's the first time the agency, founded in 2004, has released a major....
View the full video of the Senate Committee on Banking, Housing, and Urban Affairs hearing on virtual currencies here. It was refreshing to see a Senate hearing kick off half an hour early for a change, and in a place with far more sitting room than room 538 of the Dirksen Senate Office Building. Just before 15:00 ET, while aides were still preparing that room for the two-hour session, Senator Jerry Moran posted a question on reddit: "I'm one of the Senators attending today's US Senate Banking Committee hearing related to bitcoin. What would you like me to know?" He wanted wider input on....
The hearing on digital assets will involve discussions around four key aspects: crypto exchanges, stablecoin offerings, regulatory concerns in digital assets and federal regulatory responses. The United States House Committee on Financial Services released a memorandum detailing the points of discussion during the hybrid hearing on digital assets, to be held today at 10:00 a.m. ET.Addressing the members of the Financial Services Committee, the memo confirmed that the hearing will dedicate one panel to six executives from the crypto community as witnesses. The list includes Circle’s Jeremy....